On December 31, 2027, Howell Company’s inventory records ind…
On December 31, 2027, Howell Company’s inventory records indicated a balance of $878,000. Upon further investigation it was determined that this amount included the following:• $168,000 in inventory purchases made by Howell shipped from the seller 12/27/27 terms FOB destination, but not due to be received until January 2• $111,000 in goods sold by Howell with terms FOB destination on December 27. The goods are not expected to reach their destination until January 6.• $9,000 of goods received on consignment from Westwood CompanyWhat is Howell’s correct ending inventory balance on December 31, 2027?