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Business, 19.03.2021 03:30 aprilreneeclaroxob0c

Sheffield Company took a physical inventory on December 31 and determined that goods costing $218,900 were on hand. Not included in the physical count were $25,610 of goods purchased from Pelzer Corporation, f. o.b. shipping point, and $22,510 of goods sold to Alvarez Company for $32,160, f. o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Sheffield report as its December 31 inventory

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Sheffield Company took a physical inventory on December 31 and determined that goods costing $218,90...
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