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Given the following items and costs as of the balance sheet date,determine the value of Light Company's merchandise inventory. - $2,000 goods sold by Light to another company.The goods are in transit and shipping terms are FOB shipping point.
- $3,000 goods sold by another company to Light.The goods are in transit and shipping terms are FOB shipping point.
- $4,000 owned by Light but in the possession of another company,the consignee.
- Damaged goods owned by Light that originally cost $5,000 but now have an $800 net realizable value.
Archegoniophore
The structure that bears archegonia, found in certain plants like liverworts and ferns, facilitating reproduction.
Liverworts
Simple, non-vascular plants that are part of the bryophyte group, often found in moist habitats and playing a role in the ecosystem as pioneer species.
Lycopodiophyta
A division of vascular plants known as clubmosses that exhibit early characteristics of plant evolution such as microphyll leaves.
Bryophyta
A division of non-vascular plants that includes mosses, liverworts, and hornworts, characterized by a life cycle dominated by the gametophyte stage.
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