Multiple Choice
Bellingham Inc. took a physical inventory at the end of the year and calculated that £1,450,000 of goods were on hand. Bellingham determined that £25,000 of goods were in transit. The goods were shipped F.o.b. shipping point and were received by Bellingham two days after the inventory count. The company also had £275,000 of goods out on consignment. What amount should Bellingham report for inventory on its statement of financial position?
A) £1,150,000.
B) £1,450,000.
C) £1,725,000.
D) £1,750,000.
Correct Answer:
Verified
Correct Answer:
Verified
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