PeeDee Corp. made two purchases on December 30, 2021. One purchase for $1,000 was shipped FOB shipping point, and the second for $6,000 was shipped FOB destination. Although both purchases have shipped, neither purchase had been received nor paid for on December 31, 2021. Considering only these two purchases, PeeDee's inventory balance at December 31, 2021 should be: O $1,000 O $0 O $6,000 $7,000 ABC Company transfers $8,000 of Inventory to XYZ Company on consignment. Which company should include the Inventory on their balance sheet at the end of the year? Both companies Neither company ABC Company O XYZ Company Ending inventory can be calculated as: O Beginning Inventory + Cost of Goods Sold - Purchases O Beginning Inventory + Purchases - Cost of Goods Sold O Beginning Inventory - Cost of Goods Sold O Beginning Inventory + Purchases