Icee Company started the year a beginning inventory balance…
Icee Company started the year a beginning inventory balance of $. This balance was based on a physical count that failed to realize that $ of inventory was being held on consignment by Frosty Inc. Icee uses a perpetual inventory system.During the year, Icee purchased $ of inventory on account with credit terms of /10, n/30. No discounts were taken. Purchases were all made f.o.b. shipping point, with freight charges of $ paid by the vendor. Iceee returned inventory with an invoice amount of $ for credit. How much would cost available for sale be, assuming Icee uses the gross method to record purchase discounts? Enter whole dollar amounts, using commas but not dollar signs.