Business, 14.04.2020 18:00, hurtadocrv

Vogts Company sells TVs. The perpetual inventory was stated as $38,500 on the books at December 31, 2017. At the close of the year, a new approach for compiling inventory was used and apparently a satisfactory cut-off for preparation of financial statements was not made. Some events that occurred are as follows. 1. TVs shipped to a customer January 2, 2018, costing $5,000 were included in inventory at December 31, 2017. The sale was recorded in 2018. 2. TVs costing $15,000 received December 30, 2017, were recorded as received on January 2, 2018. 3. TVs received during 2017 costing $4,600 were recorded twice in the inventory account. 4. TVs shipped to a customer December 28, 2017, f. o.b. shipping point, which cost $10,000, were not received by the customer until January, 2018. The TVs were included in the ending inventory. 5. TVs on hand that cost $6,100 were never recorded on the books. Compute the correct inventory at December 31, 2017.

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Vogts Company sells TVs. The perpetual inventory was stated as $38,500 on the books at December 31,...