Toledo Limited is trying to determine the value of its ending inventory at February 28, 2012, the company's year-end. The accountant counted everything that was in the warehouse as of February 28, which resulted in an ending inventory valuation of $48,000. However, she didn't know how to treat the following transactions so she didn't record them. For each of the below transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount. Toledo Limited is trying to determine the value of its ending inventory at February 28, 2012, the company's year-end. The accountant counted everything that was in the warehouse as of February 28, which resulted in an ending inventory valuation of $48,000. However, she didn't know how to treat the following transactions so she didn't record them. For each of the below transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount