Problem 157 Vogts Company sells TVs. The perpetual inventory was stated as $38,500 on the books at December 31, 2017. At the close of the year, a new approach for compiling inventory was used and apparently a satisfactory cut-off for preparation of financial statements was not made. Some events that occurred are as follows. 1TVs shipped to a customer January 2, 2018, costing $5,000 were included in inventory at December 31, 2017. The sale was recorded in 2018. 2TVs costing $15,000 received December 30, 2017, were recorded as received on January 2, 2018. 3TVs received during 2017 costing $4,600 were recorded twice in the inventory account. 4TVs shipped to a customer December 28, 2017, f.o.b. shipping point, which cost $10,000, were not received by the customer until Jan uary, 2018. The TVs were included in the ending inventory. 5TVs on hand that cost $6,100 were never recorded on the books. Compute the correct inventory at December 31, 2017 Correct inventory $