Black Company Determined Its December 31, 2010 Inventory to Be

question 40

Multiple Choice

Black Company determined its December 31, 2010 inventory to be $1, 000, 000 based on a physical count priced at cost.It then determined the following additional information: Merchandise costing $90, 000, was shipped FOB shipping point from a vendor on December 30, 2010.This merchandise was received and recorded on January 5, 2011.
Goods costing $120, 000 were staged on the shipping dock and excluded from inventory although shipment was not made until January 4, 2011.The goods were billed to the customer FOB shipping point on December 30, 2010.
What is Black's ending inventory for its December 31, 2010 balance sheet?

• A)$1, 000, 000
• B)$1, 090, 000
• C)$1, 120, 000
• D)$1, 210, 000

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Definitions:

AIDET

An acronym that stands for Acknowledge, Introduce, Duration, Explanation, and Thank you, used to guide healthcare providers in communicating with patients to improve their experience.

Describes Procedures

The detailed explanation or documentation of how specific tasks or operations should be carried out.

Nursing Care Measures

Actions and interventions carried out by nurses to ensure the well-being and recovery of patients, including monitoring, treatment administration, and support.

Dyspneic

Experiencing difficulty in breathing or shortness of breath, a symptom that can be associated with various health conditions.