Current Attempt in Progress Cullumber Looms Inc took a physical inventory at the end of...
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Accounting
Current Attempt in Progress Cullumber Looms Inc took a physical inventory at the end of the year and determined that $931000 of goods were on hand between its warehouse and store locations. In addition, the following items were not considered when counting final inventory: $45000 of goods purchased were in transit. The goods were shipped to.b. shipping point and were received by the company three days after the inventory count. $53500 worth of goods that were sold with an explicit repurchase agreement on the inventory. What amount should Cullumber report as inventory at the end of the year? $1029500$931000$832500$976000
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