Q13 Company completed its inventory count. It arrived at a total inventory value of $200,000. You have been given the information listed below. Discuss how this information affects the reported cost of inventory. 1. Walmart included in the inventory goods held on consignment for Falls Co., costing $15,000. 2. The company did not include in the count purchased goods of $10,000, which were in transit (terms: FOB shipping point). 3. The company did not include in the count inventory that had been sold with a cost of $12,000, which was in transit (terms: FOB shipping point). Which of the following statement is FALSE? A. Item 1: Goods of $15,000 held on consignment should be deducted from the inventory count. B. Item 2: The goods of $10,000 purchased FOB shipping point should be added to the inventory count. C. Item 3: Item 3 was treated correctly. D. Inventory should be $185,000