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University Of Houston Operations And Supply Chain Management Assignment Help - the Ferrick Corporation


Question - You are engaged to audit the Ferrick Corporation for the year ended December 31, 2011.
Only merchandise shipped by the Ferrick Corporation to customers up to and including
December 30, 2011, has been eliminated from inventory. The inventory as determined by
physical inventory count has been recorded on the books by the company's controller. No
perpetual inventory records are maintained. All sales are made on an FOB'shipping point
basis. You are to assume that all purchase invoices have been correctly recorded.

The following lists of sales invoices are entered in the sales journal for the months of
December 2011 and January 2012, respectively.


Sales Invoice
Amount
Sales
Invoic
e Date
Cost of
Merchandise
Sold
Date
Sh ...Read More

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