In an annual audit of Solaro Company Limited, you find that a physical inventory count on December 31, 2023, showed merchandise of $441,000. You also discover that the following items were excluded from the $441,000 : 1. Merchandise of $61,000 is held by Solaro on consignment from BonBon Corporation. 2. Merchandisecosting $33,000 was shipped by Solaro fo.b. dectination to XYZLtd. on December 31,2023 . This merchandise was accepted by XYZ0n January 6,2024. 3. Merchandise costing $46,000 was shipped f.o.b. shipping point to ABC Company on December 29, 2023. This merchandise was received by ABCon January 10,2024 4. Merchandisecosting $73,000 was shipped f.o.b. dertination from Wholesaler Inc. to Solaro on December 30 , 2023 . Solaro received the itemson January 3, 2024. 5. Merchandisecosting $51,000 was shipped by DistributorLtd. f.o.b. shipping point on December 30,2023 and received at Solaro's office on January 2, 2024. 6. Solaro had excess inventory and incurred an additional $1,500 in storage costs due to delayed shipment in transaction (3) above. 7. Solaro incurred $2,000 for interet expenseon inventory it purchased through delayed payment plans in fiscal 2023. Under what circumstancescan a private company reporting under AsPE sapitalize interest costs incurred to finance inventory? ETextbook and Media Under what circumstances can a public company reporting under IFRS capitalize interect costs incurred to finance inventory? ETextbook and Media Explain some audit procedures that the auditorwould perform to satisfy the financial statement assertion for cut-off for inventory transactions and events