The Following Items Were Included in a Corporation's Inventory Account

question 94

Multiple Choice

The following items were included in a corporation's inventory account at December 31,2013: $\begin{array} { l } \text {Including 40 percent mark-up on selling price }&\$14,000\\\text { Goods purchased, in transit, shipped fo.b. shipping point }&12,000\\\text { Goods held on consignment by the corporation}&9,000\\\end{array}$
Merchandise out on consignment,at sale price, The corporation's inventory account at December 31,2013 should be reduced by:

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