Multiple Choice
Keiko Company took a physical inventory at December 31, 2013 and determined that ¥3,530,000 of goods were on hand. In addition, the company had goods consigned with Chang Company that had a cost of ¥700,000. On December 29, Keiko sold and shipped F.o.b. shipping point ¥600,000 worth of inventory. These goods arrived at the buyer's place of business on January 4, 2014. What amount should Keiko report as inventory on its December 31, 2013 statement of financial position?
A) ¥3,530,000.
B) ¥4,130,000.
C) ¥4,230,000.
D) ¥4,730,000.
Correct Answer:
Verified
Correct Answer:
Verified
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