Farley Bains, an auditor with Nolls CPAs, is performing a review of Cullumber Company's Inventory account Cullumber did not have a good year, and top management is under pressure to boost reported income. According to its records, the imwentory balance at yearend was $695,600. However, the following information was not considered when determining that amount: (a1) Prepare a schedule to determine the cocrect inventory amount. (Show omounts that reduce inventary with a negative signes: 45 or porentheseres. (45)) 4. The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-tp on December 31. The shipper picked up the goods on January 1 and delivered them on January 6 . The shipping terms were FOB shipping point. The goods had a selling price of $41,920 and a cost of $31,050. The goods were not included in the count because they were sitting on the dock. 5. Included in the count was $47.900 or goods that were parts for a machine that the company no longer made. Given the tigh-tech nature of Cullumber's products, it was unlikely that these obsolete parts had any other use. However, management would prefer to keep them on the books at cost. "since that is what we paid for them, after all: Farley Bains, an auditor with Nolls CPAs, is performing a review of Cullumber Company's Inventory account Cullumber did not have a good year, and top management is under pressure to boost reported income. According to its records, the imwentory balance at yearend was $695,600. However, the following information was not considered when determining that amount: (a1) Prepare a schedule to determine the cocrect inventory amount. (Show omounts that reduce inventary with a negative signes: 45 or porentheseres. (45)) 4. The company received an order on December 29 that was boxed and was sitting on the loading dock awaiting pick-tp on December 31. The shipper picked up the goods on January 1 and delivered them on January 6 . The shipping terms were FOB shipping point. The goods had a selling price of $41,920 and a cost of $31,050. The goods were not included in the count because they were sitting on the dock. 5. Included in the count was $47.900 or goods that were parts for a machine that the company no longer made. Given the tigh-tech nature of Cullumber's products, it was unlikely that these obsolete parts had any other use. However, management would prefer to keep them on the books at cost. "since that is what we paid for them, after all