E7-2 Determining the Correct Inventory Balance [LO 7-1, LO 7-2, LO 7.4] Seemore Lens Company (SLC) sells contact lenses FOB destination For the year ended December 31, the company reported Inventory of $83,000 and Cost of Goods Sold of $446,000. check a. Included in Inventory and Accounts Payable) are $12.600 of lenses SLC is holding on consignment b Included in SLC's Inventory balance are $6.300 of office supplies held in SLC's warehouse Excluded from SLC's Inventory balance are $9.300 of lenses in the warehouse, ready to send to customers on January 2 SLC reported these lenses as sold on December 31, at a price of $17600. Included in SLC's Inventory balance are $3,650 of lenses that were damaged in December and will be scrapped in January, with zero realizable value Required: Prepare the table showing the balances presently reported for inventory and cost of Goods Sold, and then displaying the adjustments needed to correctly account for each of items ( ad and finally determining the appropriate Inventory and cost of Goods Sold balances (Enter any decreases to account balances with a minus sign.) Inventory Cost of Goods sold. Present Balance Arte Balance