David Corporation has just completed a physical inventory count at year end, December 31, 2022. Only the items on the shelves, in storage, and in the receiving area were counted. The inventory amounted to $97,000. David Co. uses a perpetual inventory system. During the audit, the independent CPA discovered the following additional Information: (a) There were goods in transit on December 31, 2022, from a supplier with terms FOB destination, costing $10,000. Since the goods had not arrived, they were excluded from the physical inventory count (b) On December 27, 2022, a regular customer purchased goods for cash amounting to $1,000 and left them for pickup on January 4, 2023. David Corporation had paid $500 for the goods and, because they were on hand, included them in the physical Inventory count (c) David Corporation, on the date of the inventory count, received notice from a supplier that goods ordered earlier, at a cost of $4,000, had been delivered to the transportation company on December 28, 2022; the terms were FOB shipping point Because the shipment had not arrived on December 31, 2022, it was excluded from the physical inventory, (d) On December 31, 2022, there were goods in transit to customers, with terms FOB shipping point, amounting to $800 (expected delivery on January 8, 2023). The goods were shipped and excluded from the physical inventory count (e) On December 31, 2022, David Gorporation shipped $2,500 worth of goods to a customer, FOB destination on January 5, 2023. The goods were not on hand, and not included in the physical inventory count (1) David Corporation, as the consignee, had goods on consignment that cost $5.000. These goods were on hand as of December 31, 2022 and were included in the physical inventory count