Shellan Kamp Company Identifies the Following Items for Possible Inclusion

question 4

Essay

Shellan Kamp Company identifies the following items for possible inclusion in the physical inventory. Indicate whether each item should be included or excluded from the inventory taking.
1. Goods shipped on consignment by Shellan Kamp to another company.
2. Goods in transit from a supplier shipped FOB destination.
3. Goods shipped via common carrier to a customer with terms FOB shipping point.
4. Goods held on consignment from another company.

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Definitions:

Reefer Units

Refrigeration units used in transportation, specifically designed to control the temperature of perishable goods in containers or trailers during shipping.

Btus

British Thermal Units, a unit of heat used to describe the power of heating and cooling systems, such as air conditioners and furnaces.

Joules

A unit of energy in the International System of Units (SI), equivalent to the work done by a force of one newton acting over a distance of one meter.

Laminated Oak

Wood made from layers of oak that are bonded together, often used for its strength and aesthetics in flooring and furniture.