Question 7 View Policies Current Attempt in Progress Houghton Limited is trying to determine the value of its ending inventory as of February 28, 2020, the company's year-end. The following transactions accurred, and the accountant asked your help in determining whether they should be recorded or not For each of the below transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount. (a On February 26, Houghtan shipped goods costing $1,000 to a Werc shipned with terms FOB shioping point and the receivine repart indicates that the customer received the goods on March 2 (b) On February 26, Crain Inc. shipped goods to Houghton under terms FOB shipping point. The invoice price was $550 plus dicates that the goods 3 d hy Houghton on March 2, 1 (c) O o i tomee wbobas requested that the goods be shipped on March 10. (d) Also included in Houghton's warehouse is $750 of inventory that Korenic Producers shipped to Houghton on consignment. (el On February 26, Houghton issueda 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 (f) On February 26, Houghton shipped goods to a customer under terms FOB destination. The involce price was $360, the cost of the items was $250. The receiving report indicates that the goods were received by the customer on March 2 $ Houghton had damaged goods set aside in the warehouse cost $500. and Houghton had expected to sell these items for $700