Inventory_1

Inventory_1 - ACTG 502: ADDITIONAL PROBLEMS INVENTORIES...

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ACTG 502: ADDITIONAL PROBLEMS INVENTORIES (WEEK #1) E8-1 (Inventoriable costs) Presented below is a list of items that may or may not be reported as inventory in a company’s December 31 balance sheet. 1. Goods out on consignment at another company’s store. 2. Goods sold on an installment basis. 3. Goods purchased f.o.b. shipping point that are in transit at December 31. 4. Goods purchased f.o.b. destination that are in transit at December 31. 5. Goods sold to another company, for which our company has signed an agreement to repurchase at a set price that covers all costs related to the inventory. 6. Goods sold where large returns are predictable. 7. Goods sold f.o.b. shipping point that are in transit at December 31. 8. Freight charges on goods purchased. 9. Factory labor costs incurred on goods still unsold. 10. Interest costs incurred to advertise goods held for resale. 11. Costs incurred to advertise goods held for resale. 12. Materials on hand not yet placed into production by a manufacturing firm.
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This note was uploaded on 11/13/2011 for the course ECON 201 taught by Professor Bonistis during the Spring '11 term at NJIT.

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Inventory_1 - ACTG 502: ADDITIONAL PROBLEMS INVENTORIES...

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