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:

One Step at a Time

An approach that focuses on completing tasks sequentially rather than all at once, promoting manageability and focus.

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The level of fulfillment or contentment an individual feels regarding their job, including aspects like work environment, compensation, and recognition.

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The ability to effectively communicate, interact, and work with people from different cultural backgrounds.

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An individual responsible for overseeing the operations, management, and success of a manufacturing or production facility.