Indicate in each of the spaces provided the effect of the described errors on the various elements of a company's financial statements. Assume a periodic inventory system.

Indicate in each of the spaces provided the effect of the described errors on the various elements of a company's financial statements. Assume a periodic inventory system. Cost of Goods Sold Accounts Receivable Inventory Accounts Payable Sales 1. Goods in transit shipped "f.o.b. destination" by supplier were recor but were excluded from ending inventory. 2. Goods held on consignment were included in inventory count and recorded as a purchase. 3. Goods in transit shipped "f.o.b. shipping point" were not recorded as a sale and were included in ending inventory. 4. Goods were shipped and appropriately excluded from ending inventory but sale was not recorded