3. Arthur Clennam Inc. is trying to determine the value of its ending inventory at April 30. The accountant estimated an ending inventory valuation of $48,000. However, she didnt know how to treat the following transactions so she didnt record them.

(a) On April 26, Arthur Clennam Inc. shipped to a customer goods costing $900. The goods were shipped FOB destination, and the receiving report indicates that the customer received the goods on May 2.

(b) On April 26, Little Dorrit Inc. shipped goods to Arthur Clennam Inc. FOB shipping point. The invoice price was $780. The receiving report indicates that the goods will be received by Arthur Clennam Inc. on May 2.

(d) $1400 of inventory that Arthur Clennam Inc. shipped to Belle on consignment is in Belles warehouse.

(e) On April 26, Arthur Clennam Inc. ordered goods costing $750. The goods were shipped FOB destination on April 29. Arthur Clennam Inc. will receive the goods on May 1.

(f) On April 28, Arthur Clennam Inc. packaged goods and had them ready for shipping to a customer FOB destination. The invoice price was $350; the cost of the items was $250. The receiving report indicates that the goods were received by the customer on April 30.

(g) Arthur Clennam Inc. had damaged goods set aside in the warehouse because they are no longer saleable. These goods cost $800 and Arthur Clennam Inc. originally expected to sell these items for $1000.

Instructions

For each of the above transactions, specify whether the item in question should be included in ending inventory and, if so, at what amount. For each item that is not included in ending inventory, indicate who owns it and in what account, if any, it should have been recorded.