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27Q.The Gateway Company's physical inventory at 12/31 was $10,000. In addition, two in-transit items existed: - A $200 item purchased from a vendor; FOB Shipping

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27Q.The Gateway Company's physical inventory at 12/31 was $10,000. In addition, two in-transit items existed: - A $200 item purchased from a vendor; FOB Shipping - A $350 item sold to a customer; FOB Destination The 12/31 Inventory for the balance sheet is: a. $10,000 b. $10,350 c. $10,200 d. $10,550 e. $10,150

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