Brazilian résumés are quite different from U.S. résumés

Repair and maintenance costs of vehicles used to deliver products to the customers are included in manufacturing overhead

Indicate whether the statement is true or false

As a result of a physical inventory, Horace Company determined that it had inventory worth $320,000 at December 31, 2015. This count did not take into consideration the following facts: Bretton Consignment currently has goods worth $47,000 on its sales floor that belong to Horace but are being sold on consignment by Bretton. The selling price of these goods is $75,000. Horace purchased $22,000 of goods that were shipped on December 27, FOB Destination, that will be received by Horace on January 3. Determine the correct amount of inventory that Horace should report.

A. $367,000 B. $340,000 C. $320,000 D. $387,000