B Corporation has just completed a physical inventory count at year end, December 31, 2022. Only the items on the shelves, in storage, and in the receiving area were counted. The inventory amounted to $115,500. B uses a perpetual inventory system. During the year-end audit, the independent CPA discovered the following additional information: 1. There were goods in transit on December 31, 2022, from a supplier with terms FOB destination, costing $12,750. Because the goods had not arrived, they were excluded from the physical inventory count. 2. B Corporation, on the date of the inventory count, received notice from a supplier that goods ordered earlier, at a cost of $15,000, had been delivered to the transportation company on December 28, 2022; the terms were FOB shipping point. Because the shipment had not arrived on December 31, 2022, it was excluded from the physical inventory. 3. On December 31, 2022, there were goods in transit to customers, with terms FOB shipping point, amounting to $1,200 (expected delivery on January 8, 2023). Because the goods had been shipped, they were excluded from the physical inventory count. 4. B Corporation, as the consignee, had goods on consignment that cost $7,500. Because these goods were on hand at December 31, 2022, they were included in the physical inventory count. Instructions Analyze the above information and calculate the corrected amount for the ending inventory. Briefly explain the rationale for your treatment of each item.