Concord Limited is trying to determine the amount of its ending inventory as at August 31 , the company's year end. The accountant counted everything in the warehouse in early September, which resulted in an ending inventory amount of $128,100. However, the accountant was not sure how to treat the following transactions, so she did not include them in the count. She has asked for your help in determining whether she should or should not include the following items in inventory: 1. Aug. 15 Concord had $1,620 of inventory isolated in the warehouse. The company isolated the goods because a customer did not want them shipped until September 6. The customer does not own the goods and will pay for them in September. 2. 19 Concord purchased goods FOB shipping point from a supplier. The inventory cost $1,890. The appropriate party paid the freight costs of $107. The supplier shipped the goods on August 29 and Concord received the goods on September 2. 3. 22 Concord purchased goods FOB destination from a supplier, The inventory cost $2,380. The appropriate party paid the freight costs of $690. The supplier shipped the goods on August 26 and Concord received the goods on September 3. 4. 23 Concord was holding inventory that it sold to a customer on August 23 that needed adjustments before the customer would take possession. The inventory cost $1,400 and the alterations, completed on August 25 , cost $199. The customer plans to pick up the inventory on September 2. 5. 26 Concord received $10,000 of inventory on consignment from Temiskaming Manufacturers Ltd. By August 31. Concord had not sold any of this inventory. 6. 27 Concord shipped goods costing $4,310 FOB destination to a customer. There were no freight charges pertaining to this shipment. The receiving report indicates that the customer received the goods on September 4. cost $199. The customer plans to pick up the inventory on September 2. 5. 26 Concord received $10,000 of inventory on consignment from Temiskaming Manufacturers Ltd. By August 31. Concord had not sold any of this inventory. 6. 27 Concord shipped goods costing $4,310 FOB destination to a customer. There were no freight charges pertaining to this shipment. The receiving report indicates that the customer received the goods on September 4 . 7. 29 Concord shipped $8,280 of inventory on consignment to Chapleau Corporation. By August 31, Chapleau had sold 25% of this inventory for Concord. 8. 30 Concord shipped goods FOB shipping point to a customer. The inventory cost $2,290. The appropriate party paid the freight costs of $177. The receiving report indicates that the customer received the goods on September 3 . For each of the situations, specify whether the accountant should include the item in ending inventory, and if so, at what amount. For each item that is not included in ending inventory, indicate who owns it and what account, if any, the accountant should record the item in, assuming that the company uses a perpetual inventory system. (Choose 'No entry' from the Account column, if the items are excluded from inventory.) 22 Concord purchased goods FOB destination from a supplier. The inventory cost $2,380. The appropriate party paid the freight costs of $690. The supplier shipped the goods on August 26 and Concord received the goods on September 3. 23 Concord was holding inventory that it sold to a customer on August 23 that needed adjustments before the customer would take possession. The inventory cost $1,400 and the alterations, completed on August 25 , cost $199. The customer plans to pick Concord purchased goods FOB shipping point from a supplier. The inventory cost $1,400. The appropriate party paid the freight costs of \$199. The supplier shipped the goods on February 26 and Concord received the goods on March 3. Concord shipped $8,280 of inventory on consignment to Chapleau Corporation. By August 31, Chapleau had sold 25% of this inventory for Concord. Concord shipped goods FOB shipping point to a customer. The inventory cost $2.290. The appropriate party paid the freight costs of $177. The receiving report indicates that the customer received the goods on September 3 . Calculate the revised ending inventory amount. Revised ending inventory amount $ Concord Limited is trying to determine the amount of its ending inventory as at August 31 , the company's year end. The accountant counted everything in the warehouse in early September, which resulted in an ending inventory amount of $128,100. However, the accountant was not sure how to treat the following transactions, so she did not include them in the count. She has asked for your help in determining whether she should or should not include the following items in inventory: 1. Aug. 15 Concord had $1,620 of inventory isolated in the warehouse. The company isolated the goods because a customer did not want them shipped until September 6. The customer does not own the goods and will pay for them in September. 2. 19 Concord purchased goods FOB shipping point from a supplier. The inventory cost $1,890. The appropriate party paid the freight costs of $107. The supplier shipped the goods on August 29 and Concord received the goods on September 2. 3. 22 Concord purchased goods FOB destination from a supplier, The inventory cost $2,380. The appropriate party paid the freight costs of $690. The supplier shipped the goods on August 26 and Concord received the goods on September 3. 4. 23 Concord was holding inventory that it sold to a customer on August 23 that needed adjustments before the customer would take possession. The inventory cost $1,400 and the alterations, completed on August 25 , cost $199. The customer plans to pick up the inventory on September 2. 5. 26 Concord received $10,000 of inventory on consignment from Temiskaming Manufacturers Ltd. By August 31. Concord had not sold any of this inventory. 6. 27 Concord shipped goods costing $4,310 FOB destination to a customer. There were no freight charges pertaining to this shipment. The receiving report indicates that the customer received the goods on September 4. cost $199. The customer plans to pick up the inventory on September 2. 5. 26 Concord received $10,000 of inventory on consignment from Temiskaming Manufacturers Ltd. By August 31. Concord had not sold any of this inventory. 6. 27 Concord shipped goods costing $4,310 FOB destination to a customer. There were no freight charges pertaining to this shipment. The receiving report indicates that the customer received the goods on September 4 . 7. 29 Concord shipped $8,280 of inventory on consignment to Chapleau Corporation. By August 31, Chapleau had sold 25% of this inventory for Concord. 8. 30 Concord shipped goods FOB shipping point to a customer. The inventory cost $2,290. The appropriate party paid the freight costs of $177. The receiving report indicates that the customer received the goods on September 3 . For each of the situations, specify whether the accountant should include the item in ending inventory, and if so, at what amount. For each item that is not included in ending inventory, indicate who owns it and what account, if any, the accountant should record the item in, assuming that the company uses a perpetual inventory system. (Choose 'No entry' from the Account column, if the items are excluded from inventory.) 22 Concord purchased goods FOB destination from a supplier. The inventory cost $2,380. The appropriate party paid the freight costs of $690. The supplier shipped the goods on August 26 and Concord received the goods on September 3. 23 Concord was holding inventory that it sold to a customer on August 23 that needed adjustments before the customer would take possession. The inventory cost $1,400 and the alterations, completed on August 25 , cost $199. The customer plans to pick Concord purchased goods FOB shipping point from a supplier. The inventory cost $1,400. The appropriate party paid the freight costs of \$199. The supplier shipped the goods on February 26 and Concord received the goods on March 3. Concord shipped $8,280 of inventory on consignment to Chapleau Corporation. By August 31, Chapleau had sold 25% of this inventory for Concord. Concord shipped goods FOB shipping point to a customer. The inventory cost $2.290. The appropriate party paid the freight costs of $177. The receiving report indicates that the customer received the goods on September 3 . Calculate the revised ending inventory amount. Revised ending inventory amount $