Houghton Limited is trying to determine the value of its ending inventory as of February $28,2027,$ the company's year$-$end. '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 shipped goods costing $$800$ to a

customer and charged the customer $$1,000.$ The goods were

shipped with terms FOB shipping point and the receiving

report indicates that the customer received the goods on

March $2.$

$($b$)$ On February $26,$ Crain Inc. shipped goods to Houghton under

terms FOB shipping point. The invoice price was $$700$ plus

$$50$ for freight. The receiving report indicates that the goods

were received by Houghton on March $2.$

$($c$)$ Houghton had $$840$ of inventory isolated in the warehouse.

The inventory is designated for a customer who has requested

that the goods be shipped on March $10.$

$($d$)$ Also included in Houghton's warehouse is $$820$ of inventory

that Korenic Producers shipped to Houghton on consignment.

$