Crane Company took a physical inventory on December 31 and determined that goods costing $164,000...
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Crane Company took a physical inventory on December and determined that goods costing $ were on hand. Not included in the physical count were $ of goods purchased from Pelzer Corporation, FOB, shipping point, and $ of goods sold to Alvarez Company for $ FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at yearend. What amount should Crane report as its December inventory? Ending inventory 
Crane Company took a physical inventory on December and determined that goods costing $ were on hand. Not included
in the physical count were $ of goods purchased from Pelzer Corporation, FOB, shipping point, and $ of goods sold to
Alvarez Company for $ FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at yearend.
What amount should Crane report as its December inventory?
Ending inventory
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