company uses the FIFO Inventory Method in valuing inventory. The inventory balance of $372,500 was based on a physical count at 12/31/2013. Based on your analysis, you have noted that $4,500 of marketing games that belonged to Marketing Majors Inc. and being held by Company on consignment was included in the physical account at year-end. You also note that goods were in transit from a vendor on December 31, 2020 and were not included in ending inventory. The cost of the inventory was $16,200 and the goods were shipped f.o.b. shipping point on December 29, 2020