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Midterm 2, Make-Up Questions - Total 50 points A. Shellan Kamp...

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Midterm 2, Make-Up Questions - Total 50 points A. Shellan Kamp Company identifies the following items for possible inclusion in the physical inventory. Indicate whether each item should be included or excluded from the inventory taking. 1. Goods shipped on consignment by Shellan Kamp to another company. Include or Exclude 2. Goods in transit from a supplier shipped FOB destination. Include or Exclude 3. Goods shipped via common carrier to a customer with terms FOB shipping point. Include or Exclude 4. Goods held on consignment from another company. Include or Exclude B. In its first month of operations, Dieker Company made three purchases of merchandise in the following sequence: (1) 200 units at $6 per unit, (2) 300 units at $7 per unit, and (3) 400 units at $8 per unit. Dieker uses a periodic inventory system. Assuming there are 250 units on hand, compute the cost of the ending inventory under the FIFO method. Cost of Ending Inventory =

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