Given the Following Items and Costs as of the Balance

question 190

Multiple Choice

Given the following items and costs as of the balance sheet date,determine the value of Faltron Company's merchandise inventory.
$1,000 goods sold by Faltron to another company.The goods are in transit and shipping terms are FOB destination.
$2,000 goods sold by another company to Faltron.The goods are in transit and shipping terms are FOB destination.
$3,000 owned by Faltron but in the possession of another company the consignee.
Damaged goods owned by Faltron which originally cost $4,000,but which now have a $500 net realizable value.

• A)$10,000
• B)$6,500
• C)$5,500
• D)$5,000
• E)$4,500

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Definitions:

Androcentrism

A perspective or practice that places male human beings or masculinity at the center of one's worldview, implicitly regarding them as the norm.

Womanism

A social theory focusing on the experiences and struggles of women, especially women of color, emphasizing ethnicity, gender equality, and social justice.

Pro-feminism

An attitude or movement that supports feminism and its efforts to address and fight gender inequalities, often adopted by individuals regardless of gender.

Ethnic Minorities

Groups within a larger society that have distinct cultural, linguistic, or racial characteristics different from the majority population.