On December 31, 2023, Jen \& Mink Clothing (J\&M) performed the inventory count and determined the year-end ending inventory value to be $77500 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 0. On January 3, 2024, J\&M received a shipment of 104 blue jackets, for $2,496 (Item \#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 $740 and cost of $520,FOB shipping. The order was shipped on December 30, 2023. J\&M has not included this inventory. c. Red Blazers (Item #6193 ) were purchased and shipped from International Co. on December 30,2023, for $3,340, FOB shipping The shipment arrived January 5, 2024, and the appropriate party paid for the shipping charges of $360. Additional costs were $240 for import duties and $68 for insurance during shipment. J\&M has not included this inventory d. At year-end, J\&M is holding $5,852 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 (Item \#4291), FOB destination costing $1,060 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 (c) detemine whether inventory should be included or exduded in inventory at December 31,2023 . If the invertory should be included, determine the correct inventory cost (Do not leave any empty spoces, input a 0 wherever it is required) 2. Determine the correct ending inventory value at December 31,2023 Starting with the unadjusted inventory value of $77,500, 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