Problem 4 (10 points): For each of the following situations, determine if the item in question should be included in Weber Fruit Sales' December 31 inventory. Assume the physical examination is taking place on December 31 and the situation on that date is described. Record the word "include" or "exclude" in the column labeled "Decision" to indicate your response. Situation Decision a. Weber received 500 gallons of apple juice to sell on behalf of Gala Orchards. b. In order to secure a short-term loan, Weber had pledged 3,000 gallons of apple cider as collateral. The loan is delinquent and the bank has obtained a court order requiring Weber to deliver the apple cider to a site designated by the bank no later than 3:00 p.m. the next day. c. Weber just received notice from a client cancelling a previous order. Weber had set aside standard inventory items to fill the order. The items are still with Weber. d. To raise funds to meet operating expenses, Weber factored 1,000 bushels of peaches with a factoring agent. The agreement called for Weber to sell the peaches and forward the sales proceeds. e. Weber ordered 1,000 bushels of oranges from Hubbard Fruits. The sales terms were FOB-shipping point. The oranges were shipped December 29 and arrived on January 2 f. Weber shipped 10,000 canning jars to a customer FOB-destination. The customer informed Weber that it did not order these items and will return them. Arrangement for the return shipment has not yet been finalized g. Weber received a court order from a foreign court ordering it to hold onto 1,000 cans of apricots until a trial has been completed. Weber's attorney informs it that the court order can be ignored since the court has no jurisdiction over Weber. h. Weber contracted with an Arizona orchard to acquire 10,000 bushels of oranges. Weber has paid for the oranges and is responsible for their delivery. The oranges have been picked and are awaiting shipment. 1 Weber's count sheets show 100 bushels of figs. The examination turned up 125 bushels. The mventory manager stated that this is a normal "safety margin" he maintains so he won't run out of items before reordering. How do you deal with the extra 25 bushels. j. Weber donated 10,000 bags of peanuts to a local food warehouse for the poor. The peanuts are separated from the rest of the inventory and are awaiting shipment by Weber who has agreed to deliver the items