accounting

Hanna and Claudia, two salespersons in adjoining territories, regularly compete for bonuses. During the last month, their dollar volume of sales, on which the bonuses are based, was nearly equal. 0n the last day of the month, both made a large sale. Both orders were shipped on the last day of the month and both were received by the customer on the lth of the following month. Hanna's sale was FOB shipping point, and Claudia's was FOB destination. The company counts sales for purposes of calculating bonuses on the basis of credit terms. Therefore, who (or, both) would be given the bonus? If you provide the bonus only to one salesperson, the other would be upset and might accuse you that you are being unethical for allowing only one salesperson to get a bonus just for choosing a particular shipping method. -As an accountant, how would you clarify it? Explain your position. [5 lllrltl] Queens Limited is trying to determine the value of its ending inventory at February 28, 2008, the company's year-end. The accountant counted everything that was in the warehouse as of February 28, which resulted in an ending inventory valuation of $48,000. HUWever, she didn't know how to treat the following transactions- a) On February 26, Seller Inc. shipped goods to Queens FOB destination. The invoice price was $350.The receiving report indicates that the goods were received by Queens on March 2. b) On February 28, Queens 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 March 2. c} Queens also had $400 of inventory on consignment of Jasper craft shop. Instructions For each of the above transactions, specify whether the item in question should be included in ending inventory & indicate who owns it? [5 marks]