Flint Company's inventory of $ million at December was based on a physical count of goods
priced at cost and before any yearend adjustments relating to the following items:
a Goods shipped fob shipping point on December from a vendor at an invoice cost of
$ to Flint, received on January
b Goods worth $ and included in the physical count, billed to Makee Corp., fob shipping point,
on December The carrier picked up these goods on January
c Goods shipped fob destination received by Flint on January The invoiced amount was
$
d Goods shipped fob destination and received by Flint on December that are on
consignment. The value of the goods is $ and they have not been included in the physical
inventory count.
What should Flint report as its inventory amount on its SFP
Inventory $
