A physical inventory count of MegaCorp has a $50,000 balance before considering the following:
Consigned goods sent to and held by Madison Company: $10,000
Inventory in transit sold FOB destination: $7,500
Inventory in transit purchased FOB destination: $2,500
At what amount should inventory be reported on the balance sheet?

The amount of inventory reported on balance sheet is $62,500

Explanation:

In this question, we are asked to calculate the value at which inventory will be reported on the balance sheet.

To do this, we can employ a mathematical approach.

Mathematically;

Amount of inventory reported in Balance sheet = physical inventory + goods sent on consigned + inventory purchased on fob destination

From the question, we can identify the following;

Physical inventory = $50,000

Goods sent on consigned = $10,000

Inventory purchased on fob destination = $2,500

The amount of inventory reported in balance sheet = 50,000 + 10,000 + 2,500 = $62,500

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

answer; ///blank(1); rate-buster; blank(2) systematic soldiering;