Use the chart provided below to determine the impact if a company forgets to include $3,500 of inventory that was shipped FOB shipping point on December 15, 2013 but was still in transit at year end. The purchase invoice was received before year end and appropriately included in the purchases and accounts payable.

Question

Use the chart provided below to determine the impact if a company forgets to include $3,500 of inventory that was shipped FOB shipping point on December 15, 2013 but was still in transit at year end. The purchase invoice was received before year end and appropriately included in the purchases and accounts payable.
Use the chart provided below to determine the impact if a company forgets to include $3,500 of inventory that was shipped FOB shipping point on December 15, 2013 but was still in transit at year end. The purchase invoice was received before year end and appropriately included in the purchases and accounts payable.

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The Answer of Use the chart provided below to determine the impact if a company forgets to include $3,500 of inventory that was shipped FOB shipping point on December 15, 2013 but was still in transit at year end. The purchase invoice was received before year end and appropriately included in the purchases and accounts payable.

Use the Chart Provided Below to Determine the Impact If