Austin Limited is trying to determine the value of its Austin Limited is trying to determine the value of its ending inventory as of February 28, 2014, the companys year-end. The following transactions occurred, and the accountant asked your help in determining whether they should be recorded or not. (a) On February 26, Austin shipped goods costing $800 to a customer and charged the customer $1,000. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March 2. (b) On February 26, Louis Inc. shipped goods to Austin under terms FOB shipping point. The invoice price was $450 plus $30 for freight. The receiving report indicates that the goods were received by Austin on March 2. (c) Austin had $650 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10. (d) Also included in Austins warehouse is $700 of inventory that Ryhn Producers shipped to Austin on consignment. (e) On February 26, Austin issued a purchase order to acquire goods costing $900. The goods were shipped with terms FOB destination on February 27. Austin received the goods on March 2. (f) On February 26, Austin shipped goods to a customer under terms FOB destination. The invoice price was $350; the cost of the items was $200. The receiving report indicates that the goods were received by the customer on March 2. Instructions For each of the above transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount.

it the books compal the Student Companion site to acce Visit the book's comp tory as of Feb 2. 2014, the company's year end. The following transactions occurred, and the acco 28, 2014, the com asked your help in determining whether they should the accountant P6-1A Austin Limited is trying to determine the value of its ending inventory as of corded or not. o a customer and cha and charged the oint and the omer $1,000. The goods were shipped with terms FOB shipping poid he and the shipping point. (a) On February 26, Austin shipped goods costing customer $1,000. The goods we ceving report indicates that th goods we oods e customer received the goods on March 2. bruary 26, Louis Inc. shipped goods to Austin under terms FOB sh e invoice price was $450 plus $30 for freight. The receiving r b) On February 26, Louis Inc indicates that the tha Th oice price was $450 plus $30 for freight. The receiving report indicates goods were r eceived by Austin on March 2. The inventory is designated ) Austin had $6 50 of inventory isolated in the warehouse. The inventory is d for a customer who has requested that the g oods be shipped on March 10