Bucky Company identifies the following items. Indicate wheth…
Bucky Company identifies the following items. Indicate whether each item should be included or excluded from ending inventory of Bucky Company on December 31, 2025. Bucky Company purchased 10,000 units of inventory from Wolverine Company (a supplier). The goods were shipped FOB Shipping Point on December 28, 2025. The goods were received by Bucky on January 5, 2026. Bucky company uses Red and White consignment shop to help sell their inventory. On December 15, 2025 Bucky delivered 1,000 units of inventory to Red and White to hold on consignment. Red and White sold the inventory to a customer on January 4, 2026. Grainger Corp uses Bucky Company’s store on State Street to sell their goods on consignment. On December 20, 2025 Bucky received 12,000 of these units from Grainger. The goods were sold by Bucky on Grainger’s behalf on January 4, 2026. Bucky Company sold 2,000 units of inventory to Spartan LLC (a customer). The goods were shipped FOB Destination on December 31, 2025. The goods arrived to Spartan LLC on January 2, 2026. Bucky Company purchased 5,000 units of inventory from Wisconsin Inc. Terms of sale were FOB Destination. The goods were shipped on December 29, 2025 and received by Bucky on December 30, 2025