Farley Bains, an auditor with Nolls CPAs, is performing a review of Sheffield Corp's Inventory account....

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Farley Bains, an auditor with Nolls CPAs, is performing a review of Sheffield Corp's Inventory account. Sheffield 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 $811.000. 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 sign preceding the number, eg-15,000, or parenthesis eg (15,000). Enter 0 there is no effect) 811000 Ending inventory as reported 1 Included in the company's count were goods with a cost of $300.000 that the company is holding on consignment. The goods belong to Nader Corporation 11000 2 The physical count did not include goods purchased by Shetheld Corp with a cost of $30.000 that were shipped FOB shipping point on December 28 and did not arrive a Sheffield Corp's warehouse until January 3 781000 3 Induted in the Inventory account was 118,400 of office supplies that were stored in the warchoose and were to be uned by the company's supervisors and managers during the 700 Farley Bains, an auditor with Nolls CPAs, is performing a review of Sheffield Corp's Inventory account. Sheffield 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 $811.000. 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 sign preceding the number, eg-15,000, or parenthesis eg (15,000). Enter 0 there is no effect) 811000 Ending inventory as reported 1 Included in the company's count were goods with a cost of $300.000 that the company is holding on consignment. The goods belong to Nader Corporation 11000 2 The physical count did not include goods purchased by Shetheld Corp with a cost of $30.000 that were shipped FOB shipping point on December 28 and did not arrive a Sheffield Corp's warehouse until January 3 781000 3 Induted in the Inventory account was 118,400 of office supplies that were stored in the warchoose and were to be uned by the company's supervisors and managers during the 700