The following situations have been brought to your attention: 0. On January 3, 2024, J\&M received a shipment of 111 blue Jackets, for $3,441 (Item #7649 ). The inventory was purchased December 23. 2023. FOB destination from Global Threads. This inventory was included in J\&M's inventory count and inventory listing b. On December 29,2023 , J\&M sold scarves (item \#5566) to a customer with a sale price of $810 and cost of $555, FOB shipping The order was shipped on December 30.2023. J\&M has not included this inventory. c. Red Blazers (Item #6193 ) were purchased and shipped from international Co. on December 30, 2023, for $3.410, FOB shipping. The shipment arrived January 5, 2024, and the appropriate party paid for the shipping charges of $430. Additional costs were $275 for import duties and $82 for insurance during shipment. J\&M has not included this inventory. d. At year-end, J\&M is holding $8,372 of black pants (item #10824 ) on consignment for designer Duke Co. This inventory was included in J\&M's inventory count and inventory listing. e. On December 31,2023, J\&M shipped white shirts (Item \#4291). FOB destination costing $1,165 to a customer. The customer was charged $1,400 and the customer received the goods on January 3,2024 . J\&M has not included this inventory. Required: 1. In situations (a) to (e) determine whether inventory should be included or excluded in inventory at December 31,2023 . If the inventory should be included, determine the correct inventory cost. (Do not leave any empty spaces; input a 0 wherever it is The following situations have been brought to your attention: 0. On January 3, 2024, J\&M received a shipment of 111 blue Jackets, for $3,441 (Item #7649 ). The inventory was purchased December 23. 2023. FOB destination from Global Threads. This inventory was included in J\&M's inventory count and inventory listing b. On December 29,2023 , J\&M sold scarves (item \#5566) to a customer with a sale price of $810 and cost of $555, FOB shipping The order was shipped on December 30.2023. J\&M has not included this inventory. c. Red Blazers (Item #6193 ) were purchased and shipped from international Co. on December 30, 2023, for $3.410, FOB shipping. The shipment arrived January 5, 2024, and the appropriate party paid for the shipping charges of $430. Additional costs were $275 for import duties and $82 for insurance during shipment. J\&M has not included this inventory. d. At year-end, J\&M is holding $8,372 of black pants (item #10824 ) on consignment for designer Duke Co. This inventory was included in J\&M's inventory count and inventory listing. e. On December 31,2023, J\&M shipped white shirts (Item \#4291). FOB destination costing $1,165 to a customer. The customer was charged $1,400 and the customer received the goods on January 3,2024 . J\&M has not included this inventory. Required: 1. In situations (a) to (e) determine whether inventory should be included or excluded in inventory at December 31,2023 . If the inventory should be included, determine the correct inventory cost. (Do not leave any empty spaces; input a 0 wherever it is