Mogul Company ships inventory to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attempt to sell the inventory, and in return, Mogul will pay to Ski Outfit a commission of 10% of the selling price on any inventory sold. During the year, Mogul ships inventory with a cost of $100,000 to Ski Outfit and pays shipping costs of $22,000. By the end of the year, $80,000 of the inventory has been sold to customers for a total of $105,000. Mogul allocates $16,000 of the shipping costs to inventory sold and the other $6,000 to inventory not sold. Mogul also paid advertising costs during the year of $20,000. What amount of inventory will Mogul report at year end? Multiple Choice $66,000 $46,000 $26,000 $20,000