Waterway inc. took a physical inventory at the end of the year and determined that $832000 of goods were on hand. in addition, the following items were not included in the physical count. waterway, inc. determined that $96000 of goods purchased were in transit that were shipped f. o.b. destination (goods were actually received by the company three days after the inventory count).the company sold $39500 worth of inventory f. o.b. destination.
what amount should waterway report as inventory at the end of the year?
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Waterway inc. took a physical inventory at the end of the year and determined that $832000 of goods...
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