Wildhorse Company is trying to determine the value of its ending inventory as at February 28, 2021, the company's year end. The accountant counted everything that was in the warehouse as at February 28, which resulted in an ending inventory valuation of $64.000. However, he was not sure how to treat the following transactions, so he did not include them in inventory: For each of the below transactions, specify whether the item should be included in ending inventory, and if so, at what amount Include $490 1. 2. Wildhorse Company shipped $870 of inventory on consignment to Sandhill Company on February 20. By February 28. Sandhill Company had sold $380 of this inventory for Wildhorse. On February 28, Wildhorse was holding merchandise that had been sold to a customer on February 25 but needed some minor alterations. The customer has paid for the goods and will pick them up on March 3 after the alterations are complete. This inventory cost $490 and was sold for $880 Exclude Include 580 In Wildhorse's warehouse on February 28 is $380 of inventory that Craft Producers shipped to Wildhorse on consignment 3. 4 tre On February 27. Wildhorse shipped goods costing 5920 to a customer and charged the customer $1,300. The goods were shipped FOB destination and the receiving report indicates that the customer received the goods on March & ENG MPM 2011-11-25 7C Rain showers in 4. Blue 5. On February 27, Wildhorse shipped goods costing 5970 to a customer and charged the customer $1,300. The goods were shipped FOB destination and the receiving report indicates that the customer received the goods on March 3. On February 26, Teulon Company shipped goods to Widhorse, FOB shipping point. The invoice price was $390 plus $25 for freight. The receiving report indicates that the goods were received by Wildhorse on March 2 Wildhorse had $610 of inventory put aside in the warehouse. The inventory is for a customer who has asked that the goods be shipped on March 10. On February 26, Wildhorse issued a purchase order to acquire goods costing 5725. The goods were shipped FOB destination. The receiving report indicates that Wildhorse received the goods on March 2 On February 26, Wildhorse shipped goods to a customer, FOB shipping point. The invoice price was $370 plus $26 for freight. The cost of the iterns was $280. The receiving report indicates that the goods were received by the customer on March 4. 6. 7. 8 7C Rals shown 408 ENG TOM 22-11