Beck Company has inventory of $ 740 comma 000 in its stores as of December 31. It also has two shipments inminustransit that left the suppliers' warehouses by December 28. Both shipments are expected to arrive on January 5. The first shipment of $ 236 comma 000 was sold f. o.b. destination and the second shipment of $ 108 comma 000 was sold f. o.b. shipping point. Beck Company also has consigned goods of $ 75 comma 000 awaiting sale with Meyer Company. What amount of inventory should Beck Company report on its balance sheet as of December 31?

The invention balance sheet as at 31 December is $923,000

Explanation:

In this question, we are asked to calculate the amount of money Beck company will report in its balance sheet as of December 31st.

To do this, we simply employ a mathematical approach.

Mathematically, the amount of inventory recorded by Beck company on its balance sheet as of December 31st would be;

Inventory in stores + Goods in consignment + Good in transit F.o.b shipping point

We identify these values as follows;

Inventory in stores = $740,000

Goods in transit f.o.b shipping point = $108,000

Goods in consignment = $75,000

The amount of inventory Beck company should record will be; $740,000 + $108,000 + $75,000 = $923,000

answer; is usually (less than) the socially optimal level of consumption;

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%