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21 Apr 2019

Stallman Company took a physical inventory on December 31 anddetermined that goods costing $203,240 were on hand. Not includedin the physical count were $28,310 of goods purchased from PelzerCorporation, f.o.b. shipping point, and $25,110 of goods sold toAlvarez Company for $39,250, f.o.b. destination. Both the Pelzerpurchase and the Alvarez sale were in transit at year-end. Whatamount should Stallman report as its December 31 inventory?

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Beverley Smith
Beverley SmithLv2
22 Apr 2019

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