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Homestead Crafts,a distributor of homemade gifts,operates out of owner Emma Finn’s house. How many units should Emma include in her company’s period - end inventory?

Homestead Craftsa distributor of homemade giftsoperates out of owner Emma Finns house How many units should Emma include in her companys period end inventory class=

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Answer:

Period-end Inventory = 1,710 units

Explanation:

Units in Ending Inventory

Units of Product on hand                    1,300 units

Add:

Units in-transit                                        350 units

Units in-consignment                               80 units

Less:

Damaged                                               (20) units

Total units in period-end inventory= 1,710 units

Since the products are in transit and some products are out of consignment to the homestead crafts, therefore, both the products belong to them. Damage products need to removed to reduce the inventory balance.

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