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The management of Kauer Company has engaged you to assist in the preparation of year-end December 31 financial statements You are told that on November 30 the correct inventory level was

The management of Kauer Company has engaged you to assist in the preparation of year-end (December 31) financial statements. You are told that on November 30, the correct inventory level was 150,000 units. During the month of December, sales totaled 50,000 units including 25,000 units shipped on consignment to Towsey Company. A letter received from Towsey indicates that as of December 31, it had sold 20,000 units and was still trying to sell the remainder. A review of the December purchase orders to various suppliers shows the following: Kauer Company uses the "passing of legal title" for inventory recognition. Compute the number of units that should be included in the year-end inventory.

Apr 10 2020 View more View Less

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