Coronado Company took a physical inventory on December 31 and determined that goods costing $199,600 were on hand. Not included in the physical count were $23,940 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $20,700 of goods sold to Alvarez Company for $32,580, f.o.b. destination. Both the Pelzer purchase and the Alvarez s

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Coronado Company took a physical inventory on December 31 and determined that goods costing $199,600 were on hand. Not included in the physical count were $23,940 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $20,700 of goods sold to Alvarez Company for $32,580, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Coronado report as its December 31 inventory? December 31 inventory $

$Coronado Company took a physical inventory on December 31 and determined that goods costing $ \$ 199,600 $ were on hand. No$

Coronado Company took a physical inventory on December 31 and determined that goods costing

$199, 600

were on hand. Not included in the physical count were

$23, 940

of goods purchased from Pelzer Corporation, fo.b. shipping point, and

$20, 700

of goods sold to Alvarez Company for

$32, 580

, fo.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Coronado report as its December 31 inventory? December 31 inventory

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