The December 31, 2021, year-end inventory balance of the Bonth Company is $450,000. You have been asked to review the following transactions to determine if they have been correctly recorded.

7. The December 31, 2021, year-end inventory balance of the Bonth Company is $450,000. You have been asked to review the following transactions to determine if they have been correctly recorded. 6 points) 1. Included in the year-end inventory balance was $45,000 of inventory damage by fire that cannot be sold. 2. Materials purchased from a supplier and shipped to Bonth f.0.6. destination on December 26, 2021. were received on January 10, 2019. The invoice cost of $80,000 is not included in the preliminary inventory balance. 3. At year-end, Bonth had $40,000 of merchandise on consignment from the Bo Company. This merchandise is not included in the preliminary inventory balance. 4. On December 30, merchandise costing $17,000 was shipped to a customer f.0.6. Destination point and arrived at the customer's location on January 18, 2021. The merchandise is included in the preliminary inventory balance. 5. On December31, merchandise costing $60,000 was on consignment to Freetown Company. This merchandise is not included in the preliminary inventory balance