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Bellevue Company has 26,000 units of inventory on hand at December 31. It sold 1,950 units which are in transit and were shipped FOB destination. Bellevue purchased 3,250 units which were shipped FOB shipping point by the seller and are still in transit. What is the total amount of inventory to which Bellevue has legal title at December 31

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abiolataiwo2015

Answer:

24050

Explanation:

Calculation to determine the total amount of inventory to which Bellevue has legal title at December 31

Using this formula

Inventory=Inventory on hand at December 31- Units in Transit

Let plug in the formula

Inventory=26,000 units- 1,950 units

Inventory=24050

Therefore the total amount of inventory to which Bellevue has legal title at December 31 is 24050

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