1. EMO Company had the following inventory items at 12/31/xx Inventory items purchased from another company that cost $3,300 and were in transit on December 31 with shipping terms of FOB Shipping Point. Inventory items purchased from another company that cost $2,800 and were in transit on December 31 with shipping terms of FOB Destination. Inventory items sold to another company that had cost $3,500 and were in transit on December 31 with shipping terms FOB Shipping Point. Inventory items sold to another company that had cost $3,000 and were in transit on December 31 with shipping terms FOB Destination. How much of the above items should be included in the company's inventory on the December 31 Balance Sheet?

2. Tagit Inc. had the following inventory items on 12/31/xx Goods for sale in the store of another retailer on consignment from Tagit Inc. that had a cost of $3,300. Goods in the store of Tagit Inc. placed on consignment from another company with a cost of $2,600. Goods owned by Tagit Inc. that cost $3,300 have been damaged by water. The goods can be sold for $3,800 if $2,900 is spent cleaning and repairing them. How much of the above items should be included in the company's inventory on the December 31 Balance Sheet?