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Current Attempt in Progress Farley Bains, an auditor with Nolls CPAs, is performing a review of Whispering Winds Corp.'s t nventory account. Whispering Winds Corp.

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Current Attempt in Progress Farley Bains, an auditor with Nolls CPAs, is performing a review of Whispering Winds Corp.'s t nventory account. Whispering Winds Corp. did not have a good year, and top management is under pressure to boost reported income. According to its records, the inventory balance at year-end was $757,000. However, the following information was not considered when determining that amount. Prepare a schedule to determine the correct inventory amount. (If an amount reduces the account balance then enter with a negative sign preceding the number, e.g. 15,000, or parenthesis e.g. (15,000). Enter 0 if there is no effect.) Ending inventory-as reported 1. Included in the company's count were goods with a cost of $334,000 that the company is: holding on consignment. The goods belong to Nader Corporation. 2. The physical count did not include goods purchased by Whispering Winds Corp. with a cost of $30,000 that were shipped FOB shipping point on December 28 and did not arrive at Whispering Winds Corp.'s warehouse until January 3 . 3. Included in the inventory account was $19,500 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the

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