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Please give the corrected inventory $$
Culver Company was undergoing an end of year audit of its funancial records. The auditors were
in the process of reviewing Culver's inventory for year-end, December 31,2022. They completed
an end of year inventory. The value of the ending inventory prior to any adjustments was $182 ,
000 , but before finishing up they had a few questions. Discussion with Culver's accountant
revealed the following (a) Culver sold goods costing $62 , 500 to Linda Company FOB shipping
point on December 28. The goods are not expected to reach Linda until January 12 . The goods
were not included in the physical inventory because they were not in the warehouse (b) The
physical count of the inventory did not include goods costing $96 , 100 that were shipped to
Culver FOB destination on December 27 and were still in transit at year-end. (c) Culver received
goods costing $24 , 600 on January 2 . The goods were shipped FOB shipping point on
December 26 by Solith Company. The goodstwere not included in the physical count. (d) Culver
sold goods costing $39 , 900 to Bonita Company FOB destination on December 30 . The goods
were recelved by Bonita Compary on january B. Because the goods had been shipged, they were
excluded from the physical inventory count (e) Culver received goods costini $41 , 800 on
January 2 that were shipped FOB destination on December 29 . The shipment was a ruch order
that was supposed to have artived on December 31 . This purchase was induded in the ending
inventory of $183 , 500 (i) Culver Company, as the consigree, had goods on consignment that
cost $3 , 400 . Because these goods were on band as of December 31 , they were included in the
physical imventory count.

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Please give the corrected inventory $$ Culver Company was undergoing a.pdf

  • 1. Please give the corrected inventory $$ Culver Company was undergoing an end of year audit of its funancial records. The auditors were in the process of reviewing Culver's inventory for year-end, December 31,2022. They completed an end of year inventory. The value of the ending inventory prior to any adjustments was $182 , 000 , but before finishing up they had a few questions. Discussion with Culver's accountant revealed the following (a) Culver sold goods costing $62 , 500 to Linda Company FOB shipping point on December 28. The goods are not expected to reach Linda until January 12 . The goods were not included in the physical inventory because they were not in the warehouse (b) The physical count of the inventory did not include goods costing $96 , 100 that were shipped to Culver FOB destination on December 27 and were still in transit at year-end. (c) Culver received goods costing $24 , 600 on January 2 . The goods were shipped FOB shipping point on December 26 by Solith Company. The goodstwere not included in the physical count. (d) Culver sold goods costing $39 , 900 to Bonita Company FOB destination on December 30 . The goods were recelved by Bonita Compary on january B. Because the goods had been shipged, they were excluded from the physical inventory count (e) Culver received goods costini $41 , 800 on January 2 that were shipped FOB destination on December 29 . The shipment was a ruch order that was supposed to have artived on December 31 . This purchase was induded in the ending inventory of $183 , 500 (i) Culver Company, as the consigree, had goods on consignment that cost $3 , 400 . Because these goods were on band as of December 31 , they were included in the physical imventory count.