Comstock purchased 50 units of inventory on december 27 fob, Ask an Expert

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Comstock Company counted their inventory at the end of the year and had 220 units. Included in that amount were 20 units Comstock held on consignment from Davidson Inc. Comstock purchased 50 units of inventory on December 27, FOB shipping point. How many units of inventory should Comstock report on its year-end balance sheet?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M938123

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