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QUESTION
Assume PC Mall sold inventory on account to eCOST.com on December 28, 2008, which was to be delivered January 3, 2009. The inventory cost PC Mall...
Assume PC Mall sold inventory on account to eCOST.com on December 28, 2008, which was to be delivered January 3, 2009. The inventory cost PC Mall $25,000 and the selling price was $30,000. What amounts, if any, related to this transaction would be reported on PC Mall’s balance sheet and income statement in 2008? In 2009?
