Exercise 5-1 Inventory ownership LO C1 1. At year-end, Barr Co. had shipped $12,500 of merchandise FOB destination to Lee Co. Which company should include the $12,500 of merchandise in transit as part of its year-end inventory? Lee Co. Barr Co. 2. Parris Company has shipped $20,000 of goods to Harlow Co., and Harlow Co. has arranged to sell the goods for Parris. a. Identify the consignor. Harlow Co. Parris Co. b. Identify the consignee. Harlow Co. Parris Co. c. Which company should include any unsold goods as part of its inventory? Parris Co. Harlow Co