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  3. bonita industries took a physical inventory on dec

Bonita Industries took a physical inventory on December 31 and determined that goods costing $210,000...

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Accounting

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Bonita Industries took a physical inventory on December 31 and determined that goods costing $210,000 were on hand. Not included in the physical count were $24,000 of goods purchased from Metlock, Inc., FOB, shipping point, and $24,500 of goods sold to Whispering Winds Corp. for $34,000, FOB destination. Both the Metlock purchase and the Whispering Winds sale were in transit at year-end. What amount should Bonita report as its December 31 inventory? Ending Inventory $

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