Beck Company Has Inventory of $725,000 in Its Stores as of December

Multiple Choice

Beck Company has inventory of $725,000 in its stores as of December 31.It also has two shipments in-transit that left the suppliers' warehouses by December 28.Both shipments are expected to arrive on January 5.The first shipment of $210,000 was sold f.o.b.destination and the second shipment of $102,000 was sold f.o.b.shipping point.Beck Company also has consigned goods of $72,000 awaiting sale with Meyer Company.What amount of inventory should Beck Company report on its balance sheet as of December 31?

A) $725,000
B) $899,000
C) $1,007,000
D) $1,109,000