2. For each of the following, calculate the cost of inventory reported on the balance sheet. The total merchandise on hand at the end of the year as determined by taking a physical inventory is $72.000. Of the $72.000. $8.000 has been sold FOB destination and is awaiting pickup by the carrier a. The total merchandise inventory counted at the end of the year was $73,000. Excluded from the count were purchases of $7,000 in transit under FOB shipping point terms. b. The total merchandise inventory counted at the end of the year was $75,000. Excluded from the count were purchases of $5.000 in transit under FOB destination terms. c