dole Chart Text Shape Media Comment Chapter 10: Determining Inventory Ownership Sisters Anna and Elsa own Icy Skates, a distributor of high quality ice skates. It is year-end and the sisters are determining which goods to include in their inventory. Currently, physical inventory shows a balance of $400,000. However, the following information was not considered when determining that amount. a. On December 30, ley Skates sold goods with a selling price of $80,000 and a cost of $60,000 to District Skate Shop FOB Destination. Since the goods were in transit to District Skate Shop, the sisters did not include it in their current year-end balance. b. On December 31, Icy Skates orders additional skates from its supplier with a cost of $40,000 FOB Shipping Point. Since the goods were in transit at year-end the sisters did not include this amount in their year-end inventory. e. At year-end, Icy Skates had $10,000 of skates on consignment to a local gift shop. Since the items were not at their location, the sisters did not include this in their ending inventory balance. d. On December 29, Icy Skates shipped goods to Bella Skate Shop costing $50,000 FOB Shipping Point. The goods are scheduled to arrive at Bella's location on January 3 Since the inventory were not located at Icy Skates, they are not currently included in inventory. The correct year-end inventory balance for Icy Skates should be: S NOW tv 3