trinh inc had the following inventory situations to consider at january 31 its year 533816
Trinh Inc. had the following inventory situations to consider at January 31, its year-end.
(a) Goods held on consignment for Mail Boxes Corp. since December 12.
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trinh inc had the following inventory situations to consider at january 31 its year 533816
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(b) Goods shipped on consignment to Reddy Holdings Inc. on January 5.
(c) Goods shipped to a customer, FOB destination, on January 29 that are still in transit.
(d) Goods shipped to a customer, FOB shipping point, on January 29 that are still in transit.
(e) Goods purchased FOB destination from a supplier on January 25, that are still in transit.
(f) Goods purchased FOB shipping point from a supplier on January 25, that are still in transit.
(g) Office supplies on hand at January 31.
Instructions
Identify which of the preceding items should be included in inventory. If the item should not be included in inventory, state in what account, if any, it should have been recorded.
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