Houghton Limited is trying to determine the value of its ending inventory as of February 28, 2022, the companys yearend. The following transactions occurred, and the accountant asked your help in determining whether they should be recorded or not. For each of the transactions below, specify whether the item in question should be included in ending inventory and if so. at what amount (a) On February 26, Houghton shipoed goods costing $800 to a customer and charged the customer $1,000. The goods were shipped with terms FOB shipping point and the recelving report indicates that the cuatomer recelved the goods on March 2. (b) On February 26, Crain inc. shipped goods to Houghton under terms FOB shipping point The invoice peice was $600 plus $40 for freight, The recelving report indicates that the goods were recelved by Houghton on March 2. (c) Houghtonhad $750 of inventory isolated in the warehouse. The imventory is designated for a customer who has requested that the goods be stipped on March 10. (d) Aso included in Heughton's warehouse is 5730 ot inventory that Korenic Producers shipped to Houghton on consignment (e) On February 26, Houghton issued a purchase order to acqulre goods costing \$970, The goods were shipped with terms FOA destination on February 27. Houghton recelved the goods on March 2. (1) On February 26. Houghton thipped goods to acustemer under terms F0B destination. The invoice price was $410, the cost of the items was $260. The recelving report indicates that the goods were rectived by the customer on March? (e) Houghton had dmeged goodi iet aslee in the warehouse because they are no longer saleable. These gocds orieinally cost $550. and Houehton had expected to seil these items tor $750 5 5 3 5