1,2010 Jets Company's inventory records indicated a batance of d that tis amount included 3752 000. Upon 12.000 in inventory purchases made by Jets shipped from the seller 2nd ms FOB shipping point, but not due to be received unta January 58.000 in goods sold by Jets with terms FOB destination point on December 2 e oods are not expected to reach their destination until January 6 $6,000 of goods received on consignment from Dollywood Company What is Jets' correct ending inventory balance at December 31, 2010? a $752,000 b S634 000 d. $662,000 e. None of the above 8. Each of the following is a feature of internal control except a.. generic design of documents b. independent internal verifications C. authorization of transactions. d. limited access to assets 9. The custodian of a company asset should a have access to the accounting records for that asset b. be someone outside the company d not have access to the accounting records for that asset 10 Jenks Company deveioped the following information about its inventories in applying the 40,000 80,000 $40,000 45,000 70,000 If Jenks applies the LCM basis, the value of the inventory reported on the balance sheet would bee a. $155,000 b $161,000 c. $150,000 d. $175,000 0: e. None of the above