Business, 16.10.2020 09:01 crysderria

Sheridan Company took a physical inventory on December 31 and determined that goods costing $225,000 were on hand. Not included in the physical count were $24,200 of goods purchased from Pelzer Corporation, FOB shipping point, and $21,200 of goods sold to Alvarez Company for $29,200, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end.

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Sheridan Company took a physical inventory on December 31 and determined that goods costing $225,000...

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