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Shippers Ltd. had the following inventory situations to considerat January 31 year end Identity which of the below items should be included in inventory. If an item should be included in Inventory then choose wory and If an item should not be included in Inventory then state where it should be recorded 1. Do notice Goods held on consignment for Boxes Unlimited since December 22 Goods that are still in transit, shipped to a customer FOB destination on January 29 2 Include 3. Include Goods shipped on consignment to Rinehart Holdings Ltd. on January 5. Costilna Doesco ty 4 Do not include 5. Do not include Freight costs due on goods in transit from item 2 above. Goods that are still in transit, purchased FOB destination from a supplier on January 25 Goods that are still in transit purchased FOB shipping point from a supplier on January 25 Goods that are still in transit, shipped to a customer FOB shipping point on January 29 Include 6. Do not include 7 Marigold Ltd. reports the following inventory transactions in a periodic inventory system for the home Actory count determined that 1.700 units were on hand at the end of the month Date Explanation Units Units Cost Total Cost June 1 Beginning inventory 1.550 55 57.750 12 Purchases 2.320 6 13.920 16 Purchases 4,830 2 33,810 23 Purchases 1,360 B 10.880 Determine the cost of the ending inventory and cost of goods sold using (1) FIFO and (2) average cost, Round FIFO answers to the nearest whole dollar, c.8. 5,275 and Average cost answers to 2 decimal places, es 1525. Round unit cost to 6 decimal places 15243474) FIFO Average $ Cost of the ending inventory $ Cost of goods sold

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