Part $3$: What are the inventoriable costs for $2018$ for the following $5$ items?

Required: What costs, if any, should be included in inventory?

Kim Co$.$ purchased goods with a list price of $$175,000,$ subject to trade discounts of $20\%.$ How

much should Kim Co$.$ record as the cost of these goods?

Amount included in inventory

Keillor Company's inventory of $$1,100,000$ at December $31,2017,$ was based on a physical count of

goods priced at cost and before any year$-$end adjustments relating to the following items.

$($a$)$Goods shipped from a vendor f$.$o$.$b$.$ shipping point on December $24,2017,$ at an invoice cost

of $$69,000$ to Keillor Company were received on January $4,2018.$

$($b$)$The physical count included $$29,000$ of goods billed to Sakic Corp. f$.$o$.$b$.$ shipping point on

December $31,2017.$ The carrier picked up these goods on January $3,2018.$

What amount should Keillor report as inventory on its balance sheet?

Amount included in inventory

Zimmerman Corp. had $1,500$ units of part M$.$O$.$ on hand May $1,2017,$ costing $$21$ each. Purchases

of part M$.$O$.$ during May were as follows.

A physical count on May $31,2017,$ shows $2,000$ units of part M$.$O$.$ on hand. Using the FIFO method,

what is the cost of part M$.$O$.$ inventory at May $31,2017?$ Using the LIFO method, what is the

inventory cost? Using the average$-$cost method, what is the inventory cost?