8. Based on its physical count of inventory in its warehouse at year-end, December 31, 2021, Austin Company planned to report inventory of $34,500. During the audit, the independent CPA developed the following additional information: (a) Goods from a supplier costing $700 are in transit with UPS on December 31, 2021. The terms are FOB shipping point (explained in the "Required" section). Because these goods had not arrived, they were excluded from the physical inventory count. (b) Austin delivered samples costing $1,300 to a customer on December 27, 2021, with the understanding that they would be returned to Austin on January 15, 2022. Because these goods were not on hand, they were excluded from the inventory count. (c) On December 31, 2021, goods in transit to customers, with terms FOB shipping point, amounted to $4,000 (expected delivery date January 10, 2022). Because the goods had been shipped, they were excluded from the physical inventory count. (d) On December 31, 2021, goods in transit to customers, with terms FOB destination, amounted to $1,500 (expected delivery date January 10, 2022). Because the goods had been shipped, they were excluded from the physical inventory count. Begin with the $34,500 inventory amount and compute the correct amount for the ending inventory. Use the table format below. For each item A through d above, enter the amount of the adjustment (if any) and write a brief explanation. If there is no adjustment, just enter zero and the explanation. Ending inventory a. b. C. d. Item Correct inventory, December 31, 2021 Amount $34,500 Explanation Physical inventory count on Dec 31