ans Aa Multiple Cholce 27 Manufactured inventory than has begm the prodction process b i raw materials work in process merchandise inventory finished goods mpleed i 28. If goods in transit are shipped FOB destination the seller has legal title to the goods until they sre delivered ( the buryer has legal title to the goods until they are delivered. the transportation company has legal title to the goods while the goods are in trani d. no one has legal title to the goods until they are delivered. 29. Which of the following should not be incuded in the physical inventory of a company Goods held on consignment from another company. a. Goods in transit from another company shipped FOB shipping point. . Goods shipped on consignment to another company. d. All of these answer choices should be included. c. 30. At December 31, 2017 Howell Company"s inventory records indicated a balance of $878,000. Upon further investigation it was determined that this amount included the following $168,000 in inventory purchases made by Howell shipped from the seller 12/27/17 terms FOB destination, but not due to be received until January 2nd. STT1,000 in goods sold by Howell with terms FOB destination on December 27. The goods are not expected to reach their destination until January 6 $9,000 of goods received on consignment from Westwood Company What is Howell's correct ending inventory balance at December 31,20177 $710,000 b. $869,000 c. $590,000 d. $701,000 . Alpha First Company just began business and made the following four inventory pu 31. in June: 1,040 1,560 1,680 1,320 $5,600 150 units 200 units 200 units 150 units June 1 10 June June 15 1o0 orn June 28 A physical count of merchandise inventory on June 30 reveals that there are 210 Using the LIFO inventory method, the value of the ending inventory on June 30 i- a. $1,456 b. $1,508 c. $1,848 d. $1,824