P:, FULL SCREEN PRINTER VERS?ON 4SACK CAS-2. Inventoriable Goods and Costs) Clay Mattews, an inventory control specialist, is interested in better understanding the accounting for imventories Although Enterprises, which sells normal brand-name goods from its own store and on consignment through Chavez Inc,he asks you to sophisticated computer inventory control systems, he has little knowledge of how inventory cost is determined. In studying the records of Strider anver the following questions. Instructions (a) Should Strider Enterprises include in its inventory normal brand-name goods purchased from its suppliers but not yet recerved if the terms of purchase are fo b. shipping point (manufacturer's plant)? Why? (b) Should Strider Enterprises include freight-in expenditures as an inventory cost? Why? (e) If Strider Enterprises purchases its goods on terms 2 10, net 30, should the purchases be recorded grossor net? W (d) What are products on consignment? How should they be reported in the financial statements? (AICPA adapted)