You've recently been hired as the new Inventory accountant for Randolph Company. As you review the inventory records at December 31, 2020, in preparation for the preparation of the year-end nancial statements, you discover the following items. A physical count of all inventory on hand on December 31, 2020, was completed. For each, determine if they should be included in the balance for inventory on the December 31, 2020, balance sheet. Item a. Merchandise costing $2,060 was received on January 4, 2021, and the related purchase invoice recorded on January 5. The invoice showed the shipment was made on December 30, 2020, f.o.b. shipping point. Include or Don't Include Don't include b. Inventory costing $3,900 is held by Randolph Company on consignment for Macon Company. [Select] c. Included in inventory is merchandise sold to Yellow Jacket Company on December 31, f.o.b. destination. The merchandise was shipped after it was counted. Yellow Jacket received it on January 3, 2021. d. On December 31, a customer returned $3,000 of merchandise to Macon which had been sold for $5,600. The goods were counted as part of the physical count of inventory. On January 2, Macon determined the goods were damaged and could not be sold. e. Merchandise received by Macon on January 4, 2021, was entered in the purchases journal on January 4, 2021. The invoice showed the goods were shipped f.o,b, vendor's warehouse on December 30, 2020. [Select] [Select] [Select] f. Merchandise costing $6,500 is held on consignment by Ashland Company. [Select] g. Merchandise stored in an off-site warehouse costing $130,000 was not included in the physical count. Macon uses the warehouse to store seasonal inventory until they are ready to sell it. h. Merchandise costing $7,650 were returned to the supplier on December 30, 2020, and were shipped f.o.b. shipping point. The return was entered on that date, even though the goods are not expected to be received by the supplier until January 4, 2021. [Select] [Select]