As a result of a thorough physical inventory

As a result of a thorough physical inventory - Rogers. The...

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As a result of a thorough physical inventory, Railway Company determined that it had inventory worth $180,000 at December 31, 2010. This count did not take into consideration the following facts: Rogers Consignment store currently has goods worth $35,000 on its sales floor that belong to Railway but are being sold on consignment by
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Unformatted text preview: Rogers. The selling price of these goods is $50,000. Railway purchased $13,000 of goods that were shipped on December 27, FOB destination, that will be received by Railway on January 3. Determine the correct amount of inventory that Railway should report. $215,000. $193,000. $230,000....
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This note was uploaded on 01/04/2012 for the course ACCOUNTING ac 201 taught by Professor - during the Spring '11 term at Montgomery.

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