c) Cost of goods sold is always significantly higher under a perpetual system. d) Cost of goods sold is always significantly higher under a periodic system. 11. The Mateo Corporation's inventory at December 31, 2018, was $325,000 based on a physical count priced at cost, and before any necessary adjustment for the following: Merchandise costing $30,000, shipped f.o.b. shipping point from a vendor on December 30, 2018, was received on January 5, 2019 .Merchandise costing $22,000, shipped f.o.b. destination from a vendor on December 28,2018, was received on January 3, 2019. Merchandise costing $38,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2019 Merchandise costing $12000 was being hekd on consignment by Traynor Company. What amount should Mateo Corporation report as inventory in its December 31, 2018, balance sheet? a) $367,000. b) $427,000. c) $405,000. d) $325,000. 12. The Constance Corporation's inventory at December 31, 2018, was $125,000 (at cost) based on a physical count of inventory on hand, before any necessary adjustment for ng: Merchandise costing $15,000, shipped f.o.b. shipping point from a vendor on December 27, 2018 was received by Constance on January 5, 2019. 2018, arrived at the customer's location on January 6, 2019. Estimated sales returns are 10% of annual sales, Sales revenue was SSSO,000 with a gross profit Merchandise costing $45,000 was shipped to a customer f.o.b. shipping point on December 28, Merchandise costing $21,000 was being held on hand for Jess Company on consignment. . ratio of25%. What amount should Constance Corporation report as inventory in its December 31,2018, balance shee? a) $160,250. b) $145,250 c) $187,250 d) $190,250