Determine items and amounts to be recorded in inventory (LO 1) Austin Limited is trying to determine the value of its ending inventory as of February 28, 2019, the company's 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 S1,000. 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 (c) Austin had S650 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on Marclh (d) Also included in Austin's warehouse is S700 of inventory that Ryhn Producers shipped to Austin on consignment. report indicates that the goods were received by Austin on March 2. 10 (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 (f) On February 26, Austin shipped goods to a customer under terms FOB destination. The invoice price was S350; the cost of the items was $200. The (g) Austin had damaged goods set aside in the warehouse because they are no longer saleable. These goods originally cost S400, and Austin had expected to Austin received the goods on March 2 receiving report indicates that the goods were received by the customer on March 2. sell these items for $600 Instructions For each of the preceding transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount. For each item that is not included in ending inventory, indicate who owns it and in what account, if any, it should have been recorded