Se Inventory shipped FOB shipping point and in transit on the last day of the year should be included in Multiple Choice the inventory balance of the buyer O the inventory balance of the seller. both the inventory balance of the buyer and the seller. Enabled. Quiz Sales revenue equats $367,810, sales returns and allowances are $10,000, and sales discounts total $14.10. The cost of goods 2.490 operating expenses are $28,500, and the company incurs $31,640 of income tax expense. Which of the following statements is correc Multiple Choice Net sales equal $367,810 and gross profit is $67.000. Net sales equal $343,630 and gross profit is $127140 Net sales equal $343,630 and gross profit is $98,640