WileyPLUS Problem 6-1 Culver Corporation is trying to determine the amount of inventory it should report at its December 31 year-end. Identify which of the following items Culver should be including in inventory and at what amount. Items Included/Not Included Amount On December 28, Arners Inc. shipped goods to Culver FOB shipping point. The invoice was in the amount of $1,200 of which $40 reflected freight. Culver received the goods on January 3 1. $ Culver shipped $810 of goods on consignment to Beljira Ltd. on December 23. On December 31, Beljira informed Culver that they had sold $600 of the goods. 2. On December 29 Culver sold and collected cash from a customer for inventory costing $1,480. The goods required assembling so the customer picked them up on January 2 3. 4. Culver shipped goods FOB destination on December 27 costing $2,330 and with a selling price of $2,930. The customer received the goods on January 5 5. Culver was holding $4,730 of goods on consignment for Marshall Inc. which was included in Culver's physical inventory count on December 31 WileyPLUS Problem 6-1 Culver Corporation is trying to determine the amount of inventory it should report at its December 31 year-end. Identify which of the following items Culver should be including in inventory and at what amount. Items Included/Not Included Amount On December 28, Arners Inc. shipped goods to Culver FOB shipping point. The invoice was in the amount of $1,200 of which $40 reflected freight. Culver received the goods on January 3 1. $ Culver shipped $810 of goods on consignment to Beljira Ltd. on December 23. On December 31, Beljira informed Culver that they had sold $600 of the goods. 2. On December 29 Culver sold and collected cash from a customer for inventory costing $1,480. The goods required assembling so the customer picked them up on January 2 3. 4. Culver shipped goods FOB destination on December 27 costing $2,330 and with a selling price of $2,930. The customer received the goods on January 5 5. Culver was holding $4,730 of goods on consignment for Marshall Inc. which was included in Culver's physical inventory count on December 31