Presented below is a list of items that may or may not be reported as inventory on a company's. tecember 31 balance sheet. Write YES by the item if you think it SHOULD be included in ending inventory at December 31 or write NO if you think it SHOULD NOT be included. Pay close: attention to who you are (the company) in each scenario. 1. Merchandise of $61,000 physically held by the company/the consignee on consignment. 2. Merchandise costing $38,000 shipped by the company FOB destination to a customer on December 31 . The customer received the merchandise on January 6 of the next year. 3. Merchandise costing $51,000 purchased by the company FOB shipping point on December 31 (manufacturer shipped it on 12/31, too) and received by the company on January 5 of the next year. 4. Raw materials on which the company has started production, but which are not completely processed