On December 31, 2023, Jen \& Mink Clothing (J\&M) performed the inventory count and determined the year-end ending inventory value to be $80500. 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 110 blue jackets, for $3.300 (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 (ttem #5566 ) to a customer with a sale price of $800 and cost of $550, FOB shipping The order was shipped on December 30,2023.18M has not included this inventory. c. Red Blazers (item \#6193) were purchased and shipped from International Co, on December 30,2023 , for $3,400, FOB shipping. The shipment artived January 5, 2024, and the appropriate party paid for the shipping charges of $420. Additional costs were $270 for import duties and $80 for insurance during shipment. J8M has not included this inventory. d. At year-end, J J M is holding $8,000 of black pants (ltem \#10824) on consignment for designer Duke Co. This inventory was included in J JM's inventory count and inventory listing e. On December 31, 2023. J8M shipped white shirts (titem \#42911. FOB destination costing $1,150 to a customen. The customer was charged $1,400 and the customer received the goods on January 3.2024. J8M 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 a 0 wherever it is required.) 2. Determine the correct ending inventory value at December 31, 2023. Starting with the unadjusted inventory value of $80,500, 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