View Policies Current Attempt in Progress Crane Services is trying to determine the value of its ending inventory as at February 29, 2024, the company's year end. The following transactions occurred, and the accountant asked for your help in determining whether they should be recorded or not. 1. On February 26, Crane shipped goods costing $826 to a customer and charged the customer $1,026. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March 2. 2. On February 26 , Crain Inc shipped goods to Crane under terms FOB shipping point. The invoice price was $476, plus $56 for freight. The receiving report indicates that the goods were received by Crane on March 2. 3. Crane had $746 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10. 4. Also included in Crane's warehouse is $726 of inventory that Korenic Producers shipped to Crane on consignment. 5. On February 26, Crane issued a purchase order to acquire goods costing $926. The goods were shipped with terms FOB destination on February 27. Crane received the goods on March 2. 6. On February 26, Crane shipped goods to a customer under terms FOB destination. The invoice price was $416; the cost of the items was $266. The receiving report indicates that the goods were received by the customer on March 2. 7. Crane had goods set aside in the warehouse because they are to be returned to the supplier for a full refund. These goods originally cost $426, and Crane had expected to sell these items for $626. For each of the preceding transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount