Determining Merchandise to be included or excluded from Ending Inventory The unadjusted inventory balance of Ultim Corp. is $100,000 on December 31, 2020, based on a physical inventory count. The following items must be considered before the inventory valuation is finalired 2. On December 31, the physical inventory excluded $250 of merchandise inventory set aside for shipment to a customer, which has not yet shipped On December 31, the physical inventory excluded $1,000 et merchandise inventory out on consignment in the customers' showrooms. con December 31, the physical inventory excluded 1800 of merchandise held on consignment 5750 of in-transit merchandise was shipped to be destination to a customer and was excluded from the physical inventory count. The merchandise was turned over to a common carrieron December 28, 2020, and is expected to arrive at the customer any 2.2001 Ultim Corp. ordered merchandise on December 26, 2020. The merchandise (800) was shipped to Ultim Corp.fo. shipping point and was expected to arrive January 2, 2021. The merchandise was not included in the physical inventory count A return to a vendor of merchandise for $1,000 was in transit on December 31, 2020, and was excluded from the physical inventory count. The merchandise was shipped to be shipping point on December 30, 2020 Required Considering items through determine the adjusted inventory balance for Ulm Corp Adjud inventory balance on December 31, 2005 Determining Merchandise to be included or excluded from Ending Inventory The unadjusted inventory balance of Ultim Corp. is $100,000 on December 31, 2020, based on a physical inventory count. The following items must be considered before the inventory valuation is finalired 2. On December 31, the physical inventory excluded $250 of merchandise inventory set aside for shipment to a customer, which has not yet shipped On December 31, the physical inventory excluded $1,000 et merchandise inventory out on consignment in the customers' showrooms. con December 31, the physical inventory excluded 1800 of merchandise held on consignment 5750 of in-transit merchandise was shipped to be destination to a customer and was excluded from the physical inventory count. The merchandise was turned over to a common carrieron December 28, 2020, and is expected to arrive at the customer any 2.2001 Ultim Corp. ordered merchandise on December 26, 2020. The merchandise (800) was shipped to Ultim Corp.fo. shipping point and was expected to arrive January 2, 2021. The merchandise was not included in the physical inventory count A return to a vendor of merchandise for $1,000 was in transit on December 31, 2020, and was excluded from the physical inventory count. The merchandise was shipped to be shipping point on December 30, 2020 Required Considering items through determine the adjusted inventory balance for Ulm Corp Adjud inventory balance on December 31, 2005