folder submit files.d2i?db 60214008grpid-U8usp Inventory Transactions Scenario The following inventory transactions took place near December 31, 2018, the end of the Rasul Company's fiscal year-end: Myers Company on consignment. The shipment arrived at Myers's location orn December 29, but none of the merchandise was sold by the end of the year 1. On December 27, 2018, merchandise costing $2,000 was shipped to the The merchandise was not included in the 2018 ending inventory. 2. On January 5, 2019, merchandise costing $8,000 was received from a supplier and recorded as a purchase on that date and not included in the 2018 ending inventory. The invoice revealed that the shipment was made f.o.b. sh point on December 28, 2018. 3. On December 29, 2018, the company shipped merchandise costing $12,000 to a customer f.o.b. destination. The goods, which arrived at the customer's location on January 4, 2019, were not included in Rasul's 2018 ending inventory. The sale was recorded in 2018. 4. Merchandise costing $4,000 was received on December 28, 2018, on consignment from the Aborn Company. A purchase was not recorded and the merchandise was not included in 2018 ending inventory Merchandise costing $6.000 was received and recorded as a purchase on January 8,2019. The invoice revealed that the merchandise was shipped from the supplier on December 28. 2018, f.o.b destination. The merchandise was nnt nci urlod in 2 n1 qandino.ndant nninsoa. Asa Submit acer d2Vins/dropbox/user/folder submit files.d21?db-60214008grpid-08isprv-08bp-08kou-7653198 The merchandise was not included in the 2018 ending inventory 2. On January 5, 2019, merchandise costing $8,000 was received from a supplier and recorded as a purchase on that date and not included in the 2018 ending inventory. The invoice revealed that the shipment was made f.o.b. shipping point on December 28, 2018. 3. On December 29, 2018, the company shipped merchandise costing $12,000 to a customer f.o.b. destination. The goods, which arrived at the customer's location on January 4, 2019, were not included in Rasul's 2018 ending inventory. The sale was recorded in 2018. 4. Merchandise costing $4,000 was received on December 28, 2018, on consignment from the Aborn Company. A purchase was not recorded and the merchandise was not included in 2018 ending inventory. 5. Merchandise costing $6,000 was received and recorded as a purchase on January 8, 2019. The invoice revealed that the merchandise was shipped from the supplier on December 28, 2018, f.o.b. destination. The merchandise was not included in 2018 ending inventory.page 454 Assignment: 1. State whether Rasul correctly accounted for each of the above transactions. Give the reason for your answer 2. P 8-2 ltems to be included in inventory. Submit Submit Cancel acer