Given the following items and costs as of the balance sheet date, determine the value of Light Company's merchandise inventory. - \$2,450 goods sold by Light to another company. The goods are in transit and shipping terms are FOB shipping point. - $3,450 goods sold by another company to Light. The goods are in transit and shipping terms are FOB shipping point. - $4,450 owned by Light but in the possession of another company, the consignee. - Damaged goods owned by Light that originally cost $5,450 but now have an $1,250 net realizable value. Multiple Choice $8,150 $7,900 $9,900 $9,150 $11,150