4. In your audit of Nels Company, you find that a physical inventory on December 31 2017, showed merchandise with a cost of $427,000 was on hand at that date. You also discover the following items were all excluded from the $427,000 a. Merchandise costing $55,000 shipped b. Merchandise of $58,000 which is held by Nelson on consignment. The consignor is c. Merchandise costing $82,000 shipped by a vendor f.o.b destination on December d. Merchandise costing $46,000 was shipped by Nelson f.o.b shipping point to a by a vendor fo.b shipping point on December 31, 2017, and received by Nelson on January 5, 2018 the Jackson Company 30,2017 and received by Nelson on January 4, 2018 customer on December 29, 2017. The customer was scheduled to receive Based on the above information, indicate if the item was correctly excluded from final inventory. If the item was correctly exc IF it was improperly excluded, make the correction in the corresponding box. Lastly calcul corrected final balance of inventory that should appear on Nelson's balance sheet at December 31, 2017 luded from inventory, indicate CORRECT in the corresponding box ate a 427.000 Inventory per books December 31, 2017 b. C. d. Corrected Inventory at December 31, 2017