A business just completed its year-end physical inventory count According to the count, there was 565,900 of merchandise on hand. Last week, the business purchased merchandise from two suppliers $9,500 and 59,500, both on terms of FOB Shipping Point. Both shipments were in transit at year end with next week delivery dates. Included in our physical count was $3,100 of goods held on consignment for another business, How much inventory should be reported on the year-end balance sheet? Select one: a. 583,900 b. $78,500 c. $77,500 d. 587,000 e. $80,800