On December $31,2020,$ Jen & Mink Clothing $($J&M$)$ performed the inventory count and determined the year$-$end ending inventory

value to be $$83000.$ It is now January $8,2021,$ and you have been asked to double$-$check the year$-$end inventory listing. J&M uses a

perpetual inventory system. Note: Only relevant items are shown on the inventory listing.

The following situations have been brought to your attention:

a$.$ On January $3,2021,$ J&M received a shipment of $115$ blue jackets, for $$4,025($Item #$7649).$ The inventory was purchased December

$23,2020,$ FOB destination from Global Threads. This inventory was included in J&M$\text{'}$s inventory count and inventory listing.

b$.$ On December $29,2020,J$& M sold scarves $($Item #$5566)$ to a customer with a sale price of $$850$ and cost of $$575,$ FOB shipping.

The order was shipped on December $30,2020.$ J&M has not included this inventory.

c$.$ Red Blazers $($Item ##$6193)$ were purchased and shipped from International Co$.$ on December $30,2020,$ for $$3,450,$ FOB shipping.

The shipment arrived January $5,2021,$ and the appropriate party paid for the shipping charges of $$470.$ Additional costs were $$295$

for import duties and $$90$ for insurance during shipment. $J$&$M$ has not included this inventory.

d$.$ At year$-$end, J&M is holding $$9,900$ of black pants $($Item #$10824)$ on consignment for designer Duke Co$.$ This inventory was included

in J&M$\text{'}$s inventory count and inventory listing.

e$.$ On December $31,2020,$ J&M shipped white shirts $($Item #$4291),$ FOB destination costing $$1,225$ to a customer. The customer was

charged $$1,400$ and the customer received the goods on January $3,2021.$ J&M has not included this inventory.

Required:

In situations $($a$)$ to $($e$)$ determine whether inventory should be included or excluded in inventory at December $31,2020.$ If the

inventory should be included, determine the correct inventory cost. $($Do not leave any empty spaces; input a $0$ wherever it is

required.$)$

Determine the correct ending inventory value at December $31,2020.$ Starting with the unadjusted inventory value of $$83,000,$ add

or subtract any errors based on your analysis in Part $1.$ Assume all items that are not shown in the inventory listing are recorded

correctly.