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Aber Limited is trying to determine the value of its ending inventory as of February 28, 2014, the companys year-end. The accountant counted everything that

Aber Limited is trying to determine the value of its ending inventory as of February 28, 2014, the companys year-end. The accountant counted everything that was in the warehouse, as of February 28, which resulted in an ending inventory valuation of $49,780. However, she didnt know how to treat the following transactions so she didnt record them. For each of the transactions below, specify whether the item in question should be included in ending inventory, and if so, at what amount. (If no entry is required, then enter 0 for the amounts.) (a) On February 26, Aber shipped to a customer goods costing $840. The goods were shipped FOB shipping point, and the receiving report indicates that the customer received the goods on March 2. $ (b) On February 26, Landis Inc. shipped goods to Aber FOB destination. The invoice price was $410 plus $80 for freight. The receiving report indicates that the goods were received by Aber on March 2. $ (c) Aber had $570 of inventory at a customers warehouse on approval. The customer was going to let Aber know whether it wanted the merchandise by the end of the week, March 4. $ (d) Aber also had $530 of inventory at a Newten craft shop, on consignment from Aber. $ (e) On February 26, Aber ordered goods costing $890. The goods were shipped FOB shipping point on February 27. Aber received the goods on March 1. $ (f) On February 28, Aber packaged goods and had them ready for shipping to a customer FOB destination. The invoice price was $540 plus $30 for freight; the cost of the items was $290. The receiving report indicates that the goods were received by the customer on March 2. $ (g) Aber had damaged goods set aside in the warehouse because they are no longer saleable. These goods originally cost $330 and, originally, Aber expected to sell these items for $630.

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