Cutoff is a relevant assertion for many different accounts. For a manufacturing company, cutoff is likely to be a relevant assertion for inventory. Your client ships and receives inventory based on a variety of shipping terms. In the following scenarios indicate whether the inventory should be included in the 12/31/21 balance of inventory for your client. Select "Include" if the inventory should be included in your client's 12/31/21 inventory balance and "exclude" if the inventory should NOT be included in your client's 12/31/21 inventory balance. Include Exclude 1. Your client made a shipment on 12/30/21 to a customer FOB destination. The shipment was received by the customer on 1/3/22. 2. Your client made a shipment on 12/29/21 to a customer FOB shipping point. The shipment was received by the customer on 1/3/22. O O O 3. Your client received a shipment from a vendor on 1/4/22. It was shipped from the vendor FOB shipping point on 1/2/22 O O 4. Your client received a shipment from a vendor on 1/4/22. It was shipped from the vendor FOB shipping point on 12/29/21 Include Exclude 5. Your client received a shipment from a vendor on 1/6/22. It was shipped from the vendor FOB destination on 12/29/21. 6. Your client made a shipment on 12/28/21 to a customer FOB destination. The shipment was received by the customer on 12/31/21 OOOO 7. Your client made a shipment on 1/2/22 to a customer FOB shipping point. The shipment was received by the customer on 1/3/22 8. Your client received a shipment from a vendor on 12/31/21. It was shipped from the vendor FOB destination on 12/30/21