Multiple Choice Question 60 At December 31, 2022, Cheyenne Corp. inventory records indicated a balance...
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Multiple Choice Question 60 At December 31, 2022, Cheyenne Corp. inventory records indicated a balance of $642000. Upon further investigation it was determined that this amount included the following: $109000 in Inventory purchases made by Cheyenne shipped from the seller 12/27/22 terms FOB destination, but not due to be received until January 2nd $85000 in goods sold by Cheyenne with terms FOB destination on December 27. The goods are not expected to reach their destination until January 6. $8200 of goods received on consignment from Patricia Company What is Cheyenne's correct ending inventory balance at December 31, 2022 $439800 $524800 5533000 $633800
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