Identify what items and costs should be included in inventory and cost of goods sold. Howard is trying to compute the inventory balance for the December 31, 2017, financial statements of his automotive parts shop. He has computed a tentative balance of NT$61,800 but suspects that several adjustments still need to be made. In particular, he believes that the following could affect his inventory balance: a. A shipment of goods that cost NT$2,000 was received on December 28, 2017. It was properly recorded as a purchase in 2017 but not counted with the ending inventory. b. Another shipment of goods (FOB destination) was received on January 2, 2018, and cost NTS1,200. It was properly recorded as a purchase in 2018 but was counted with 2017's ending inventory. c. A NT$3,400 shipment of goods to a customer on January 3 was recorded as a sale in 2018 but was not included in the December 31, 2017, ending inventory balance. The goods cost NTS2,300. d. The company had goods costing NT$8,000 on consignment with a customer, and NT$6,000 of merchandise was on consignment from a vendor. Neither amount was included in the NT$61,800 figure. e. The following amounts represent merchandise that was in transit on December 31, 2017, and . recorded as purchases and sales in 2017 but not included in the December 31 inventory. 1. Ordered by Howard. NT$2,600, FOB destination 2. Ordered by Howard, NTS900, FOB shipping point 3. Sold by Howard, cost NT$3,400, FOB shipping point 4. Sold by Howard, cost NT$5,100, FOB destination Required: 1. Determine the correct amount of ending inventory at December 31, 2017. 2. Assuming net purchases (before any adjustment, if any) totaled NT$79,200 and beginning inventory (January 1, 2017) totaled NT$38.700, determine the cost of goods sold in 2017.