Marcelle's Boutiques, which is located in Iowa City, Iowa, has identified the following items for possible inclusion in its December 31, 2005 year-end inventory.
a. Merchandise Marcelle's shipped to a customer FOB shipping point was picked up by the freight company on December 26, 2005, but had still not arrived at its destination as of December 31, 2005.
b. Marcelle's has in its warehouse $30,500 of merchandise on consignment from Putnam Co.
c. Marcelle's has segregated $6,570 of merchandise ordered by one of its customers for shipment on January 3, 2006.
d. Merchandise Marcelle's shipped FOB shipping point on December 31, 2005, was picked up by the freight company at 11:52 p.m.
e. Marcelle's has sent $78,000 of merchandise to various retailers on a consignment basis.
f. Marcelle's has $18,750 of merchandise on hand, which was sold to customers earlier in the year, but which has been returned by customers to Marcelle's for various warranty repairs.
g. On December 31, 2005, Marcelle's received $17,050 of merchandise that had been returned by customers because the wrong merchandise had been shipped. The replacement order is to be shipped overnight on January 3, 2006.
h. On December 21, 2005, Marcelle's ordered $21,000 of merchandise, FOB Iowa City. The merchandise was shipped from the supplier on December 28, 2005, but had not been received by December 31, 2005.
i. On December 27, 2005, Marcelle's ordered $15,750 of merchandise from a supplier in Davenport. The merchandise was shipped FOB Davenport on December 30, 2005, but had not been received by December 31, 2005.
Indicate which items should be included (I) and which should be excluded (E) from the inventory.