E6.1 (LO 1) Shippers Ltd. had the following inventory situations to consider at January 31, its year end: 1. Goods held on consignment for Boxes Unlimited since December 22 2. Goods that are still in transit, shipped to a customer FOB destination on January 29 3. Goods shipped on consignment to Rinchart Holdings Ltd. on January 5 4. Freight costs due on goods in transit from item 2 above 5. Goods that are still in transit, purchased FOB destination from a supplier on January 25 6. Goods that are still in transit, purchased FOB shipping point from a supplier on January 25 7. Goods that are still in transit, shipped to a customer FOB shipping point on January 29 Instructions Identify which of the above items should be and should not be included in inventory. If an item should not be included in inventory, state if Shippers should record the item or not. If Shippers should record the item, state where it should be recorded