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hory at December 31, 2015 was $90,000 based on a physical count efore any necessary...

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Accounting

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hory at December 31, 2015 was $90,000 based on a physical count efore any necessary year-end adjustment relating to the following: 23) Marsha Company's inventory at December of goods priced at cost, and before any necessary yea $2,000 in goods that were sold by in goods that were sold by Marsha and shipped on December 3 2015; the goods were received by the were FOB destination. $1,000 in goods that were purchased by M were received by the customer on January 2, 2016. Terms vous that were purchased by Marsha FOB shipping point. The ere shipped on December 28, 2015 and received by Marsha on January 4, 2016. What amount should Marsha report as invento uid Marsha report as inventory on its December 31, 2015, balance sheet? a. 90,000 91,000 92,000 93,000 b. 24) Kendall Company reported the following net income amounts: 2014............. 2015......... $42,000 $67,000 .......... In 2017, the company discovered errors that had been made in computing the ending inventories for 2014 and 2015, as follows: 2014 2015 Ending inventory overstated by $9,000. Ending inventory understated by $6,000. 2 The corrected net income for the year 2015 is 52,000 64,000 70,000 73,000 82,000

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