Herc co.’s inventory at december 31, year 1, was $1.5 million based on a physical count priced at cost, and before any necessary adjustment for the following: merchandise costing $90,000 was shipped fob shipping point from a vendor on december 30, year 1, and was received and recorded on january 5, year 2. goods in the shipping area were excluded from inventory although shipment was not made until january 4, year 2. the goods, billed to the customer fob shipping point on december 30, year 1, had a cost of $120,000. what amount should herc report as inventory in its december 31, year 1, balance sheet? a. $1,500,000
b. $1,590,000
c. $1,620,000
d. $1,710,000

D) $1,710,000

Explanation:

Before adjustments, the inventory balance was $1,500,000; you must add merchandise purchased FOB shipping point (title passes at the moment merchandise is shipped) and the merchandise that was located in the shipping area:

adjusted final inventory = $1,500,000 + $90,000 + $120,000 = $1,710,000

answer; ///i believe that the correct answer is (post conventional)

the answer is: c.that person might be arrested and deported

filling w-4 form incorrectly usually would rise suspicions from government's auditors. when they notice such mistakes, they would send their teams to investigate the situation further.

if those investigation teams believe that the incorrectness is done on purpose (with malicious intent), that person can be arrested or deported