Based on its physical count of inventory in its warehouse at year$-$end, December $31,2014.$ Madison Company planned to report inventory of $$33,900.$ During the audit, the $16$ independent CPA developed the following additional information:

a$.$ Goods from a supplier costing $$620$ are in transit with UPS on December $31,2014.$ The terms are FOB shipping point $($explained in the "Required" section$).$ Because these goods had not yet arrived, they were excluded from the physical inventory count.

b$.$ Madison delivered samples costing $$1,890$ to a customer on December $27,2014,$ with the understanding that they would be returned to Madison on January $15,2015.$ Because these goods were not on hand, they were excluded from the inventory count.

c$.$ On December $31,2014,$ goods in transit to customers, with terms FOB shipping point, amounted to $$7,400($expected delivery date January $10,2015).$ Because the goods had been shipped, they were excluded from the physical inventory count.

d$.$ On December $31,2014,$ goods in transit to customers, with terms FOB destination, amounted to $$1,500($expected delivery date January $10,2015).$ Because the goods had been shipped, they were excluded from the physical inventory count.

Required:

Madison's accounting policy requires including in inventory all goods for which it has