On December 29, Platinum shipped goods with a selling price of $80,000 and a cost of $60,000 to District Sales Corporation FOB shipping point. The goods arrived on January 3. District Sales had only ordered goods with a selling price of $10,000 and a cost of $8,000. However, a sales manager at Platinum had authorized the shipment and said that if District wanted to ship the goods back next week, it could. Included in the count was $48,000 of goods that were parts for a machine that the company no longer made. Given the high-tech nature of Platinum'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." Correct inventory