Question 2 Concord Inc. took a physical inventory at the end of the year and...
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Question 2 Concord Inc. took a physical inventory at the end of the year and determined that $781000 of goods were on hand. In addition, Concord, Inc. determined that $59500 of goods that were in transit that were shipped f.o.b. shipping point were actually received two days after the inventory count and that the company had $87000 of goods out on consignment. What amount should Concord report as inventory at the end of the year? $868000. $927500. $781000. $858000
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