For each of the following transactions, indicate which company should include the inventory on its December 31, 2014, balance sheet:
1. Michelson Supplies Inc. shipped merchandise to PJ Sales on December 28, 2014, terms FOB destination. The merchandise arrives at PJ’s on January 4, 2015.
2. Quarton Inc. shipped merchandise to Filbrandt on December 27, 2014, FOB destination. Filbrandt received the merchandise on December 31, 2014.
3. James Bros. Inc. shipped merchandise to Randall Company on December 27, 2014, FOB shipping point. Randall Company received the merchandise on January 3, 2015.
4. Hinz Company shipped merchandise to Barner Inc. on December 24, 2014, FOB shipping point. The merchandise arrived at Barner on December 29, 2014.