Question: please help Current Attempt in Progress Houghton Limited is trying to determine the value of its ending imventory as of February 28, 2022, the company's

please help  please help Current Attempt in Progress Houghton Limited is trying to
determine the value of its ending imventory as of February 28, 2022,

Current Attempt in Progress Houghton Limited is trying to determine the value of its ending imventory as of February 28, 2022, the company's year-end. The following transactions occurred, and the accountant atked your help in determining whether they should be recorded or not. For each of the transactions below, specify whether the item in question should be included in ending inventory, and if so, at what amount. (a) Ont february 26 . Houghton shlpped goods costing $1.100 to a custamer and charged the customer $1,375. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March2. (b) On Petiruary 26, Crain inc shipped goods to Houghton under terms FOB shippins point. The invoice price was $400 plus $40 for freight. The receivine report indicates that the goods were received by Houghton on March 2. (c) Houghton tad 5730 of inventory isolated in the warehouse. The inventory is designated for a cuntomer whio has requested that the goods be shipoed on March 10 . (d) Also included in Houghton's warehouse is 5710 of imentory that Korenic Producers shipped to Houghton on consignment. (e) On February 26. Houghton issued a purchase order to acquire goods costing $940. The goods were shipped with terms FOB destination on February 27. Houghton received the goods on March 2. (f) On February 26, Houghton shipped goods to a customer under terms FOB destination. The invoice price was $410; the cost of the items was $240. The receiving report indicates that the goods were received by the customer on March 2. (g) Houghton had damaged goods set aside in the warehouse because they are no longer saleable. These goods originally cost $350, and Houghton had expected to sell these items for $550

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