Presented below is a list of items that may or may not reported as inventory...
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Accounting
Presented below is a list of items that may or may not reported as inventory in Seduco Companys December 31, 2021 balance sheet:
Goods sold FOB destination that are in transit at December 31
40,000
Goods purchased in transit, Free Alongside, including delivery cost alongside the vessel of P2,000 but excluding the cost of shipment of P1,000
80,000
Goods purchased FOB shipping point that are in transit at December 31
120,000
Goods purchased FOB destination that are in transit at December 31
200,000
Goods sold FOB shipping point that are in transit December 31
120,000
Freight-in charges on goods purchased, FOB shipping point
80,000
Freight-out charges on goods sold, FOB destination
45,000
Interest cost incurred for inventories that are routinely manufactured
40,000
Interest cost incurred for inventories that are non-routinely manufactured
30,000
Office supplies
10,000
Factory supplies
20,000
Goods held on consignment from another company
450,000
Goods out on consignment at another companys store
800,000
Goods sold and delivered on December 20. The goods were included in the inventory because the sale was accompanied by a purchase agreement requiring Seduco to buy back the inventory on February 2022
500,000
How much of these items would typically be reported as inventory in the financial statements?
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