Instructions Determine the correct inventory amount on December 31. E6.2 (LO 1), AN Kari Downs, an auditor with Wheeler CPAs, is performing a review of Depue Company's inventory account. Depue 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 $740,000. However, the following information was not considered when determining that amount. 1. Included in the company's count were goods with a cost of $250,000 that the company is holding on consignment. The goods belong to Kroeger Corporation. 2. The physical count did not include goods purchased by Depue with a cost of $40,000 that were shipped FOB destination on December 28 and did not arrive at Depue warehouse until January 3. 3. Included in the inventory account was $14,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year.