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For each of the following, calculate the cost of inventory reported on the balance sheet. (a) The total...

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Accounting

For each of the following, calculate the cost of inventoryreported on the balance sheet.

(a)The total inventory on hand at the end of the year asdetermined by taking a physical inventory is $62,000.  Ofthe $62,000, $8,000 has been sold FOB destination and is awaitingpickup by the carrier.
(b)The total inventory counted at the end of the year was $63,000.Excluded from the count were purchases of $6,000 in transit underFOB shipping point terms.
(c)The total inventory counted at the end of the year was $75,000.Excluded from the count were purchases of $5,000 in transit underFOB destination terms.

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