Which of the following should not be included in the physical inventory of a company?
A) Goods held on consignment from another company.
B) Goods in transit from another company shipped FOB shipping point.
C) Goods shipped on consignment to another company.
D) All of these answer choices should be included.
Correct Answer:
Verified
Q15: An error that overstates the ending inventory
Q39: If goods in transit are shipped FOB
Q44: Tidwell Company's goods in transit at December
Q45: When a perpetual inventory system is used,
Q46: An employee assigned to counting computer monitors
Q49: Which statement is false?
A)Taking a physical inventory
Q50: An error in the ending inventory of
Q51: When the average-cost method is applied in
Q73: After the physical inventory is completed
A) quantities
Q78: Independent internal verification of the physical inventory
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