in applying the lower of cost or market method to inventory valuation, market is delfined a. Historical cost b FIFO c. Cument sales price d. Replacement Cost 29. Which of the following should NOT be included in the physical inventory of a company? a. Goods in transit from another company shipped FOB shipping point b. Goods held on consignment to another company. c. Goods held on consignment from another company. d. All of the above should be included 30. Stan's Market recorded the following events involving a recent purchase of inventory Received goods for $90,000, terms 2/10, n/30. Retumed $1,800 of the shipment for credit. Paid $450 freight on the shipment . Paid the invoice within the discount period. As a result of these events, the company's inventory a. increased by $86,436. b. increased by $88,650 c increased by $86,877 d. increased by $86,886