SheridanLimited is trying to determine the value of its ending inventory as of February 28, 2020, the company's year-end. The following transactions occurred, and the accountant asked your help in determining whether they should be recorded or not.

For each of the transactions below, specify whether the item in question should be included in ending inventory, and if so, at what amount.

(a)On February 26,Sheridanshipped goods costing $960to a customer and charged the customer $1,200. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March 2.

Included

Not Included

$

(b)On February 26, Louis Inc. shipped goods toSheridanunder terms FOB shipping point. The invoice price was $450plus $20for freight. The receiving report indicates that the goods were received bySheridanon March 2.

Included

Not Included

$

(c)Sheridanhad $680of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10.

Included

Not Included

$

(d)Also included inSheridan's warehouse is $870of inventory that Ryhn Producers shipped toSheridanon consignment.

Included

Not Included

$

(e)On February 26,Sheridanissued a purchase order to acquire goods costing $1,180. The goods were shipped with terms FOB destination on February 27.Sheridanreceived the goods on March 2.

Included

Not Included

$

(f)On February 26,Sheridanshipped goods to a customer under terms FOB destination. The invoice price was $375; the cost of the items was $280. The receiving report indicates that the goods were received by the customer on March 2.

Included

Not Included

$

(g)Sheridanhad damaged goods set aside in the warehouse because they are no longer saleable. These goods originally cost $450, andSheridanhad expected to sell these items for $680.

Included

Not Included

$