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 Jonuary 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 Jenuary 3, 2024, J\&M received a shipment of 115 blue jockets, for $4,025 (Item \pm 7649 ). The inventory was purchssed December 23, 2023, FOB destination from Globel Threads. This inventory wos included in J\&M's inventory count and inventory listing. b. On December 29,2023,J8M sold scerves (ltem #5566 ) to o customer with a sale price of $850 ond cost of $575, 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 $3,450, 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, J8M is holding $9,900 of black pants (Item #10824 ) on consignment for designer Duke Co. This inventory wos 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, 225 to a customer. The customer wos charged $1,400 and the customer received the goods on January 3,2024 . J 3M 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 $83,000, add or subtract any errors bosed on your analysis in Part 1. Assume all items that are not shown in the inventory listing are recorded correctly