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Houghton Lmited is trying to determine the value of iss ending inventory as of February...

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Accounting

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Houghton Lmited is trying to determine the value of iss ending inventory as of February 28, 2022. the company/s yearend. The followine transactions occurred, and the accountant asked wour help in determining whether they should be recorded or not For esch of the transactions below, specily whether the isem in questian shouls be included in endine invertory, and if sa, at what amount. (a) On February 26, Houthton shipped goods costing $1.100 to a customer and charged the cuatomer \$1.375, The goods weec thipped with terms fol shippins point and the recelving report indicates that the customer received the genodi on Murch 2 (b) On februsry 26 , Crain inc shipped goods to thoughtn werder terms FCld stwopine point. The involce price was 5550 plon 520 for trelehe. The receivine report indicases that the eoch were received by Houghton on March 2 (c) Houshion had 5700 of invertery helased in the warchoun. The imsentory is devigused foc a customer who hus requeved thut whe goods be uhipped on Mursh 10 d) Also included in Houshton's warehouse is 5760 of irventory that Korenic Producers shipped to Houghton on consignement. $700

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