Light Company's merchandise inventory. - $2,850 goods sold by Light to another company. The goods are in transit and shipping terms are FOB shipping point - $3,850 goods sold by another company to Light. The goods are in transit and shipping terms are FOB shipping point. - $4,850 owned by Light but in the possession of another company, the consignee. - Damaged goods owned by Light that originally cost $5,850 but now have an $1,650 net realizable value