INVENTORIES Chapter 6 6-1 Determining ending inventory quantities. JB's is a wholesale company with a year end of December 31. JB's has engaged in several year-end inventory transactions. Determine from the following transactions whether the inventory should be included in the year-end physical inventory. Yes/No a) Merchandise purchased on December 28 was shipped F.O.B. b) Merchandise purchased on December 29 was shipped F.OB. c) Merchandise was sold on December 30 and shipped F.O.B. d) Merchandise was sold on December 31 and shipped F.O.B. e) JB's consigned merchandise to Wally's Warehouse, It was destination. It was received on January 2. shipping point. It was received on January 4 destination. It was received by the customer on January 3 shipping point. It was received by the customer on January 5, shipped on December 27