On December 31, 2023. Jen \& Mink Clothing (J\&M) performed the inventory count and determined the year-end ending inventory value to be $83000. It is now January 8,2024 , 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, 2024, J\&M received a shipment of 115 blue jackets, for $4,025 (ttem #7649). The inventory was purchased December 23, 2023, FOB destination from Global Threads. This inventory was included in J\&M's inventory count and inventory listing. b. On December 29,2023, 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 30,2023 . J\&M has not included this inventory. c. Red Blazers (ltem #6193 ) were purchased and shipped from International Co on December 30,2023, for $3,450, FOB shipping. The shipment arrived January 5, 2024, 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's inventory count and inventory listing. e. On December 31,2023 , J\&M shipped white shirts f(tem \#4291). FOE destination costing $1,225 to a customer. The customer was charged $1,400 and the customer received the goods on January 3, 2024. J\&M has not included this inventory; Required: 1. In situations (a) to (e) determine whether inventory should be included or excluded in inventory at December 31,2023 . If the inventory should be included, determine the correct inventory cost, (Do not leave any empty spaces; input o o wherever it is required.)