Current Attempt in Progress Rachel Warren, an auditor with Laplante CPAs, is performing a review of Whispering Winds Corp's inventory account. Whispering Winds 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 of an amount reduces the account balance then enter with a negative sin preceding the number.es -15,000, or parentheses (15,000). Enter if there is no effect) Ending inventory as reported 2 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 Harmon Corporation. The physical count did not include goods purchased by Whispering Winds with a cost of $30.000 that were shipped FOB destination on December 28 and did not arrive at Whispering Winds's warehouse until January 3. Included in the Inventory account was $19.500 of office supplles that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. 3. 4. The company received an order on December 29 that was bored and sitting on the loading dock awalting pick-up on December 31. The shipper picked up the goods on January 1 and delivered them on January 6. The shipping terms were FOB shipping point. The goods had a selling price of $44.000 and a cost of $36,000. The goods were not Included in the count because they were sitting on the dock On December 29, Whispering Winds shipped goods with a selling price of $83.500 and a cost of $61,500 to Reza Sales Corporation FOB shipping point. The goods arrived on January 3. Reza had only ordered goods with a selling price of $15,500 and a cost of 39.100. However a sales manager at Whispering Winds had authorized the shipment and sald that if Reza wanted to ship the goods back next week it could 5 Included in the company's count were goods with a cost of $334.00 that the companys holding on consignment. The goods belong to arman Corporation 2 The physical count did not include soods purchased by Whoring Winds with a cost of $30,000 that were shipped FOB destination on December 28 and did not arrive at Whispering Winds warehouse until January 21 Included in the inventory count was $19.500 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and manager during the coming your 4 The company received an order on December that was bad and sitting on the fosiding dock awating pick up on December 31. The whipper picked up the goodson January 1 and delivered them on Jantiary 6. The shipping terms were lo shipping point. The goods had a selling price of $44.000 and a cost of $36.000. The goods were not lcluded in the count because they were sitting on the dock 5. On December 29, Whispering Winds shipped goods with a selling price of $83.500 anda cost of 561,500 to Rera Sales Corporation FOB spot. The goods arrived on January 3. Revahad only ordered goods with a selling price of $15.500 and cost of $9,100. However, a sales manager at Whisperine Winds had uthorized the shipment and said that if Rera wanted to ship the goods back next week. It could 6 Included in the count was $49.500 of goods that were parts for a machine that the company no longer made.Given the high-tech nature of Whispering Winds' products, was unlikely that these obsolete parts had any other use. However, management would prefer to keep them on the books at cost since that is what we paid for them after all Correct Inventory