Problem 1 (4 points) The Tucson Corporation's fiscal year ends on December 31. Tucson determines inventory quantity by a physical count of inventory on hand at the close of business on December 31. The physical inventory at Dec 31 was $100,000. The following items were not included in the count: 1. 24 that Goods for $1,000 purchased from a vendor shipped f.o.b. shipping point on December arrived on January 4. 2. Goods for $2,000 shipped f.o.b. shipping point on December 27 arrived at the customer's location on January 4. 3. Goods for $3,000 purchased from a vendor shipped f.o.b. destination on December 27 that arrived on January 5. 4. 5. Tucson merchandise for $4,000 was held on consignment at Masterwear, Inc. Goods for $5,000 was shipped f.o.b. destination on December 29 that arrived at the customer's location on January 2. Required: Determine the cost of the company's year-end inventory. Show computation.