QUESTION 3 10 points Save Answer Given the following scenario for Green Co. indicate if Green Co. should include the items in inventory or not. An invoice has been received for goods that Green Co. ordered. The goods were shipped to Green FOB destination but have not been received by Green. Yes, Green should include the inventory because they have been invoiced for the purchase. No, Green should not include the inventory because it has not arrived at its destination. No, Green should not include the inventory because it was not yet been shipped. Yes, Green should include the inventory because the items have been shipped. QUESTION 4 10 points Saved Which of the following statements regarding inventory measurement is correct? If goods are shipped FOB Shipping, it is assumed that control does not pass to the buyer until those goods have arrived at the final destination. Goods being held by a 3rd party under a consignment arrangement should remain as listed inventory for the original company (consignor). If goods have been sold under a repurchase agreement it should be assumed that control has passed to the buyer even if the original party is obligated to repurchase. If goods are shipped FOB Destination, it is assumed that control of the inventory passes to the buyer during the transit period. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Sve A Answers Save and Submit QUESTION 5 10 points 10 points Save Answer Given the following information, and assuming the company uses a FIFO cost flow assumption, determine the quantity of ending inventory items that should be recorded at year end. Jan 1 Beginning inventory of 200 units en $24/unit Jan 10 purchased 50 units @ $25/unit Jan 22 sale of 40 units Jan 28 purchased 60 units @ $27/unit 250 270 310 200 QUESTION 6 10 points Save Answer Given the following information (same as above), and assurning the company uses a FIFO cost flow assumption, determine the dollar value of Cost of Goods Sold for the month of January Jan 1 Beginning inventory of 200 units @ $24/unit Jan 10 purchased 50 units @ $25/unit Jan 22 sale of 40 units Jan 28 purchased 60 units @ $27/unit Click Save and Submit to save and submit. Click Saw All Answers to serve all answers, Save All Answers Save and Subarnit