anual Presented below is a list of items that may or may not be reported as inventory in a company's December 31 balance sheet. xcel Access Indicate which of these items would typically be reported as inventory in the financial statements. If an item should not be reported as inventory, indicate how it should be reported in the financial statements. Item in Financial Statement Financial Statement ons Goods out on consignment at another company's store. Support Goods sold on an installment basis (bad debts can be reasonably estimated) Short-term Investments Goods purchased to b. shipping point that are in transit at December 31. Advertising Expense Not Reported Goods purchased fo.b. destination that are in transit at December 31. Cost of Goods Sold Inventory Goods sold to another company for which our company has signed an agreement to repurchase at a set price that covers all costs related to the inventory oth Sud Goods sold where large returns are predictable Interest Expense Goods sold fob shipping point that are in transit at December 31 8. Freight charges on goods purchased Interest costs incurred for inventories that are routinely manufactured 10. Costs incurred to advertise goods held for resale