Homework Sayed Help Save & Exit Sub Check my work E6-9 Items Included in Inventory (LO 6-3, LO 6-4] PCM, Inc. is a direct marketer of computer hardware, software, peripherals, and electronics. In a recent annual report, the company reported that its revenue is recognized upon receipt of the product by the customer." Required: 1. Indicate whether PCM's sales terms are FOB shipping point or FOB destination 2a. Assume PCM sold inventory on account to eCOST.com on December 28 that was to be delivered January 3. The inventory cost PCM $26,000 and the selling price was $32,000. What amounts, if any, related to this transaction would be reported on PCM'S balance sheet and income statement in December? 2b. Assuming the same information from requirement 2a, what amounts, if any, related to this transaction would be reported on PCM's balance sheet and income statement in January? 3. Assume PCM purchased electronics on December 29 that were shipped that day and received on January 2. For these goods to be included in POM's inventory on December 31, would the terms have been under FOB destination or FOB shipping point? Complete this question by entering your answers in the tabs below. Rega ReqZA Reg 28 Req 28 Reg 3 Req3 to search pot squat Dy enter your answers in the tabs below. Reg 1 Req 2A Req 2B Req3 Assume PCM sold inventory on account to eCOST.com on December 28 that was to be delivered January 3. The inventory cost PCM $ 26,000 and the selling price was $32,000. What amounts, if any, related to this transaction would be reported on PCM's balance sheet and income statement in December? (Select all that apply.) Balance sheet: $26,000 reported as inventory Income statenitent: $32,000 reported as sales revenue and $26,000 reported as cost of goods sold Income statement: no amounts related to this transaction Balance sheet: $32,000 reported as accounts receivable (until collected) Balance sheet: $32,000 reported as accounts receivable Balance sheet: no amounts related to this transaction Balance sheet: $32,000 reported as accounts receivable (until collected), no inventory Req1 Req 2B > Co search I POD Shipping po Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B plea 3 Assume PCM purchased electronics on December 29 that were shipped that day and received on January 2. For these goods to be included in PCM's inventory on December 31, would the terms have been under FOB destination or FOB shipping point? PCM's sales terms would have been under -earch o e 9W