a. Merchandise purchased on credit on December 31 of the curren year was included in ending inventory. However, the purchase was not recorded until next year when the invoice was received from the vendor. b. Ending inventory of the current year was understated because of an error in the physical inventory records. c. Goods held on consignment were inadvertently counted in the physical inventory. d. A purchase was shipped f.o.b. shipping point on December 31 of the current year. The purchase was recorded, but the item was not included in the physical inventory records. e. A purchase was shipped f.o.b. shipping point on December 31 of the current year. The purchase was not recorded until next year, and the item was not included in the physical inventory records of the current year