INVENTORY Fiscal year of client ends December 31 Inventory sales are marked up 20 % Examination revealed several questionable inventory items 4 pt each I Determine if should be EXCLUDE r INCLUDE Il. Determine dollar value the inventory is to be included IF I For part Il Disregard any answer in part 1 I Part I and II are independent 1 32 After being shipped December 30 to client customer, shipment was temporarily stranded in transit at December 31 Sales invoice # 326 for $ 45 Terms FOB shipping point Receiving report. #74 Terms FOB destination indicated it was at loading dock 33 Shipment received from vendor on December 31 Invoice #97 for $ 28 It was unloaded January 3 34 Shipment from vendor left December 30 Shipment arrived January Invoice # 83 for $ 71 Terms FOB shipping point Custom made goods were still in the warehouse at December 31 Terms FOB shipping point 35 Goods shipped January 3 Sales invoice #327 for $ 84 It was shipped December 30 Shipment from vendor received January Invoice # 93 for $67 Goods were badly damaged in shipment and are unsalable 36 4 Terms FOB shipping point