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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,

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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

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