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Identifying Inventory Costs Determine whether each cost should be included in the initial measurement of merchandise inventory of the seller, consider each item separately a.

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Identifying Inventory Costs Determine whether each cost should be included in the initial measurement of merchandise inventory of the seller, consider each item separately a. Transportation costs incurred by the seller to obtain goods purchased by supplier. b. Advertising costs incurred to sell the merchandise held for sale c. Invoice cost of inventory in-transit from a suppler, shipped FOB shipping point. d. Sales tax incurred by seller on merchandise purchased. e. Costs incurred by the seller to ship inventory to the customer, sent FOB shipping point. Using the information below, prepare journal entries and post the journal entries to those Taccounts; determine the ending balances of the Taccounts. 1. Purchased inventory for $84,540 cash. 2. Sold $51,020 of imventory for $102,000cash. Note: If there is no posting for a date listed, leave the answer blank or add a zero

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