Mixon Corporation, a manufacturer of small tools, provided the following information from its accounting records for the year ended December 31, Year 1: Inventory at December 31, Year 1 (based on a physical count of goods in Mixon's plant at cost on December 31, Year 1) $1,750,000 Accounts payable at December 31, Year 1 1,200,000 Net sales (sales less sales returns) 8,500,000

Additional information is as follows: Included in the physical count were tools billed to a customer FOB shipping point on December 31, Year 1. These tools had a cost of $28,000 and were billed at $35,000. The shipment was on Mixon's loading dock at 5:00 PM on December 31, Year 1 waiting to be picked up by the common carrier. Goods were in transit from a vendor to Mixon on December 31, Year 1. The invoice cost was $50,000, and the goods were shipped FOB shipping point on December 29, Year 1. What would be the adjusted inventory at December 31, Year 1?

a.$1,700,000

b.$1,750,000

c.$1,715,000

d.$1,800,000