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VallasInc. has the following inventory activities: Vallas sold $6,400 of inventory to a customer, FOB Shipping Point. This inventory is currently in transit Vallas owns

VallasInc. has the following inventory activities: Vallas sold $6,400 of inventory to a customer, FOB Shipping Point. This inventory is currently in transit Vallas owns $10,000 of inventory as a consignorwhich it has given to an agent to sell at a local convention. Vallas purchased $8,000 of inventory from its vendor, FOB Shipping Point. This inventory is currently in transit. What is the value of Vallasinventory on its balance sheet? $ 18,000 0. 6,400 $8,000

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