In an Annual Audit at December 31,2012,you Find the Following

In an annual audit at December 31,2012,you find the following transactions near the closing date.For each transaction,state whether the merchandise should be included in the client's inventory (yes or no)and why:
a.Merchandise costing $1,822 was received on January 3,2013 and the related invoice recorded on January 5^th.The invoice showed the shipment was made on December 29,2012,FOB destination.b.Merchandise costing $625 was received on December 28,2012 and the invoice was not recorded.You locate it in the hands of the purchasing agent.It was marked "on consignment".c.A packing case containing products costing $816 was standing in the shipping room when the physical inventory was taken.It was not included in the inventory because it was marked "holding for shipping instructions." Your investigation revealed that the customer paid for the goods on December 18,but the case was shipped and the customer revenue was recognized on January 10,2013.d.Merchandise received on January 6,2013,costing $720 was entered in the acquisitions journal on January 7,2013.The invoice showed shipment was made FOB shipping point on December 31,2012.Because it was not on hand at December 31^st,it was not included in the inventory.