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  3. on december 31 of the current year, topaz co. is d

On December 31 of the current year, Topaz Co. is determining whether the following goods...

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Accounting

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On December 31 of the current year, Topaz Co. is determining whether the following goods in-transit should be included or excluded from the physical inventory count. What amount of goods in-transit, if any, should be included in the physical inventory count of Topaz Co. on December 31 of the current year? - A shipment in-transit to Topaz Co. for $60,000 was shipped f.o.b. destination from a vendor. The goods are expected to arrive on January 2 of next year. - A shipment in-transit from Topaz Co. for $24,000 was shipped f.o.b. destination destination to a customer. The merchandise is expected to arrive on January 3 of next year. Amount to include in inventory balance: $

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