Walberg Associates, antique dealers, purchased the contents of an estate for $75,000. Terms of the purchase were FOB shipping point

Harris Company has shipped $20,000 of goods to Harlow Co., and Harlow Co. has arranged to sell
the goods for Harris.

Identify the consignor.
Harlow Co.
Harris Co

Identify the consignee.
Harlow Co.
Harris Co.

Which company should include any unsold goods as part of its inventory?
Harris Co.
Harlow Co.


At year-end, Harris C-0. had shipped $12,500 oi merchandise FOB destination to Harlow Co. Which
company should include the $12,500 of merchandise in transit as part of its year-end inventory?
Harlow Co.
Harris Co.


Walberg Associates, antique dealers, purchased the contents of an estate for $75,000. Terms of the
purchase were FOB shipping point, and the cost of transporting tile goods to Walberg Associates'
warehouse was $2,400. Walberg Associates insured the shipment at a cost of $300. Prior to putting the
goods up for sale, they cleaned and refurbished them at a cost of $980.
Determine the cost of the inventory acquired from tile estate.