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Question 22 For each of the transactions below, specify whether the item in question should be included in ending inventory on Fabrisary 2 On

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Question 22 For each of the transactions below, specify whether the item in question should be included in ending inventory on Fabrisary 2 On February 26, Houghton shipped goods costing $1,200 to a customer and charged the customer $1,500. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March 2 On February 26, Crain Inc. shipped goods to Houghton under terms FOB shipping point. The invoice price was $650 plus $30 for freight. The receiving report indicates that the goods were received by Houghton on March 2 Houghton had $810 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10, On February 26, Houghton issued a purchase order to acquire goods costing $950. The goods were shipped with terms FOB destination on February 27. Houghton received the goods on March 2 A. Not included B. Included

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