On December 31, 2023, Jen \& Mink Clothing (J\&M) performed the inventory count and determined the year-end ending inventory value to be $76500. 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 102 blue jackets, for $2,244 (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 $720 and cost of $510, 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 $3,320, FOB shipping. The shipment arrived January 5,2024, and the appropriate party paid for the shipping charges of $340. Additional costs were $230 for import dluties and $64 for insurance during shipment. J\&M has not included this inventory. d. At year-end, J\&M is holding $5,168 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 $1,030 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 a 0 wherever it is required.) 2. Determine the correct ending inventory value at December 31, 2023. Starting with the unadjusted inventory value of $76,500, 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