Buffalo’s Motors had the following inventory situations toconsider at its December 31 year end. Physical inventory count was$15,650.
1.Pete’s Propellers had $1,300 of goods held on consignment thatwere included in Buffalo’s physical inventory count.2.Goods that cost $925 were sold to Walter’s Wings and shippedFOB destination on December 28. The goods were not expected toarrive at Walter’s until January 4. These goods were not includedin the physical inventory count.3.Goods purchased from a supplier, Mike’s Motors, for $2,750 werenot received until January 2. The goods were shipped FOB shippingpoint on December 29 and were not included in the physicalcount.
Determine the correct inventory balance.
Correct
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