The Kwik Company's inventory balance on December 31,2024, was $240,000(based on a 12/31/2024 physical ...
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The Kwik Company's inventory balance on December was $based on a physical count before considering the following transactions: Goods shipped to Kwik fob destination on December were received on January The invoice cost was $ Goods shipped to Kwik fob shipping point on December were received on January The invoice cost was $ Goods shipped from Kwik to a customer fob destination on December were received by the customer on January The sales price was $ and the inventory cost $ Goods shipped from Kwik to a customer fob destination on December were received by the customer on December The sales price was $ and the inventory cost $ Goods shipped from Kwik to a customer fob shipping point on December were received by the customer on January The sales price was $ and the inventory cost $ Required: Determine the correct inventory amount to be reported in Kwik's balance sheet. 
The Kwik Company's inventory balance on December was $based on a physical
count before considering the following transactions:
Goods shipped to Kwik fob destination on December were received on January The
invoice cost was $
Goods shipped to Kwik fob shipping point on December were received on January The
invoice cost was $
Goods shipped from Kwik to a customer fob destination on December were received by the
customer on January The sales price was $ and the inventory cost $
Goods shipped from Kwik to a customer fob destination on December were received by the
customer on December The sales price was $ and the inventory cost $
Goods shipped from Kwik to a customer fob shipping point on December were received by the
customer on January The sales price was $ and the inventory cost $
Required:
Determine the correct inventory amount to be reported in Kwik's balance sheet.
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