The writer is very fast, professional and responded to the review request fast also. Thank you.
Hello and Good Morning, I need help with the following.
In your audit of Morgan Company, you find that a physical inventory on December 31, 2017, showed merchandise with a cost of $449,390 was on hand at that date. You also discover the following items were all excluded from the $449,390.
1.Merchandise of $61,150 which is held by Morgan on consignment. The consignor is the Max Suzuki Company.2.Merchandise costing $36,420 which was shipped by Morgan f.o.b. destination to a customer on December 31, 2017. The customer was expected to receive the merchandise on January 6, 2018.3.Merchandise costing $47,720 which was shipped by Morgan f.o.b. shipping point to a customer on December 29, 2017. The customer was scheduled to receive the merchandise on January 2, 2018.4.Merchandise costing $83,030 shipped by a vendor f.o.b. destination on December 30, 2017, and received by Morgan on January 4, 2018.5.Merchandise costing $49,200 shipped by a vendor f.o.b. shipping point on December 31, 2017, and received by Morgan on January 5, 2018.
Based on the above information, calculate the amount that should appear on Morgan’s balance sheet at December 31, 2017, for inventory.
Inventory as on December 31, 2017$
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more