Whispering Winds Ltd. took a physical inventory count on December 31 and determined that goods costing $2,200 were on hand. This amount included $720 of goods held on consignment for Woods Corporation. Not included in the physical count were $840 of goods purchased from Timmons Corporation, f.o.b. shipping point, and $190 of goods sold to Myers Ltd. for $350, f.o.b. destination. Both the Timmons purchase and the Myers sale were in transit at year end.
