Sunland Company is trying to determine the value of its ending inventory as at February 28, 2021, the company's year end. The accountant counted everything that was in the warehouse as at February 28, which resulted in an ending inventory valuation of $65,000. However, he was not sure how to treat the following transactions, so he did not include them in inventory: For each of the below transactions, specify whether the item should be included in ending inventory, and if so, at what amount. 1. 2. 3. 4. Sunland Company shipped $890 of inventory on consignment to Blossom Company on February 20. By February 28, Blossom Company had sold $375 of this inventory for Sunland. On February 28, Sunland was holding merchandise that had been sold to a customer on February 25 but needed some minor alterations. The customer has paid for the goods and will pick them up on March 3 after the alterations are complete. This inventory cost $500 and was sold for $860. In Sunland's warehouse on February 28 is $390 of inventory that Craft Producers shipped to Sunland on consignment. On February 27 Sunland shipped goods costing $970 to a customer and charged the customer $1.290 The g shipped FOB destination and the rece