On December 3 1 , 2 0 2 3 , Jen Mink Clothing ( J M ) performed the inventory count and determined the year end ending inventory value to be $ 8 5 0 0 0 It is now January 8 , 2 0 2 4 , 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 , 2 0 2 4 , J M received a shipment of 1 1 9 blue jackets, for $ 4 , 6 4 1 ( Item 7 6 4 9 ) The inventory was purchased December 2 3 , 2 0 2 3 , FOB destination from Global Threads This inventory was included in J M ' s inventory count and inventory listing b On December 2 9 , 2 0 2 3 , J M sold scarves ( Item 5 5 6 6 ) to a customer with a sale price of $ 8 9 0 and cost of $ 5 9 5 , FOB shipping The order was shipped on December 3 0 , 2 0 2 3 J M has not included this inventory c Red Blazers ( Item 6 1 9 3 ) were purchased and shipped from International Co on December 3 0 , 2 0 2 3 , for $ 3 , 4 9 0 , FOB shipping The shipment arrived January 5 , 2 0 2 4 , and the appropriate party paid for the shipping charges of $ 5 1 0 Additional costs were $ 3 1 5 for import duties and $ 9 8 for insurance during shipment J M has not included this inventory d At year end, J M is holding $ 1 1 , 4 9 2 of black pants ( Item 1 0 8 2 4 ) on consignment for designer Duke Co This inventory was included in J M ' s inventory count and inventory listing e On December 3 1 , 2 0 2 3 , J M shipped white shirts ( Item 4 2 9 1 ) , FOB destination costing $ 1 , 2 8 5 to a customer The customer

Question

On December 3 1 , 2 0 2 3 , Jen   Mink Clothing ( J M ) performed the inventory count and determined the year   end ending inventory value to be $ 8 5 0 0 0   It is now January 8 , 2 0 2 4 , 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 , 2 0 2 4 , J M received a shipment of 1 1 9 blue jackets, for $ 4 , 6 4 1 ( Item   7 6 4 9 )   The inventory was purchased December 2 3 , 2 0 2 3 , FOB destination from Global Threads  This inventory was included in J M ' s inventory count and inventory listing  b   On December 2 9 , 2 0 2 3 , J M sold scarves ( Item   5 5 6 6 ) to a customer with a sale price of $ 8 9 0 and cost of $ 5 9 5 , FOB shipping  The order was shipped on December 3 0 , 2 0 2 3   J M has not included this inventory  c   Red Blazers ( Item   6 1 9 3 ) were purchased and shipped from International Co   on December 3 0 , 2 0 2 3 , for $ 3 , 4 9 0 , FOB shipping  The shipment arrived January 5 , 2 0 2 4 , and the appropriate party paid for the shipping charges of $ 5 1 0   Additional costs were $ 3 1 5 for import duties and $ 9 8 for insurance during shipment  J M has not included this inventory  d   At year   end, J M is holding $ 1 1 , 4 9 2 of black pants ( Item   1 0 8 2 4 ) on consignment for designer Duke Co   This inventory was included in J M ' s inventory count and inventory listing  e   On December 3 1 , 2 0 2 3 , J M shipped white shirts ( Item   4 2 9 1 ) , FOB destination costing $ 1 , 2 8 5 to a customer  The customer

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Question

On December 3 1 , 2 0 2 3 , Jen & Mink Clothing ( J&M ) performed the inventory count and determined the year

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