Austin Limited is trying to determine the value of its Austin Limited is trying to determine the value of its ending inventory as of February 28, 2014, the company’s year-end. The following transactions occurred, and the accountant asked your help in determining whether they should be recorded or not. (a) On February 26, Austin shipped goods costing $800 to a customer and charged the customer $1,000. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March 2. (b) On February 26, Louis Inc. shipped goods to Austin under terms FOB shipping point. The invoice price was $450 plus $30 for freight. The receiving report indicates that the goods were received by Austin on March 2. (c) Austin had $650 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10. (d) Also included in Austin’s warehouse is $700 of inventory that Ryhn Producers shipped to Austin on consignment. (e) On February 26, Austin issued a purchase order to acquire goods costing $900. The goods were shipped with terms FOB destination on February 27. Austin received the goods on March 2. (f) On February 26, Austin shipped goods to a customer under terms FOB destination. The invoice price was $350; the cost of the items was $200. The receiving report indicates that the goods were received by the customer on March 2. Instructions For each of the above transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount.

(a)Austin shipped goods FOB Shipping

       Goods worth $ 800 is not to be included in inventory, as the title            of the goods have passed to the buyer on shipping

       Not to be included  

(b)Louis Inc shipped goods to Austin on FOB shipping point worth $ 450 plus$ 30 for freight.

       Austin is to record $ 450 as part ofis inventory as the title has passed to Austin at shipping. The cost of freight is to be includedas a cost by Austin as freight in.

        To be included$450  

(c)Designated for a customer $ 650 isolated in the warehouse to be shipped later.  

       This is not to be include In Austin inventory as the goods are kept on   behalf of the customer. The goods are owned by the customer  

       Not to be included

(d)Austin had $ 700 goods kept on consignment in the warehouse.

Consignment goods are not part of the inventory of Austin (consignee) as the goods title is still with consignor

       Not to be included  

(e)Goods ordered on FOB Destination for $900

       Not part of the inventory of Austin as goods title will only be passed when the goods reach Austin as the inventory is FOB destination  

       Not to be included

(f)Goods shipped on FOB destination $ 200 cost and selling price $ 350

Goods are still to be included in the inventory at $ 200 as the title will pass when the goods reach the destination

       To be included$200  

answer; /// i believe that the above statement is ( true ); the firms competencies are its strengths, the firm is likely to have the most success if it focuses on these finding customers whose needs it can meet using these

dual credit courses allow you to take a test at the end of the course that, if you pass it with a high enough score, will give you college credit.