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Use the Chart Provided Below to Determine the Impact If

Question 62

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Use the chart provided below to determine the impact if a company forgets to include $3,500 of inventory that was shipped FOB shipping point on December 25, 2013 but was still in transit at year end. The purchase invoice was processed in fiscal 2014.
Use the chart provided below to determine the impact if a company forgets to include $3,500 of inventory that was shipped FOB shipping point on December 25, 2013 but was still in transit at year end. The purchase invoice was processed in fiscal 2014.

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