Question 1 of 13 < > View Policies Current Attempt in Progress -/1 E !!! Kale Wilson, an auditor with Sneed Chartered Accountants, is performing a review of Crane Company's inventory account. Crane did not have a good year and top management is under pressure to boost reported income. According to its records, the inventory balance at year end was 725,000. However, the following information was not considered when determining that amount. Prepare a schedule to determine the correct inventory amount. (If an amount reduces the account balance then enter with a negative sign preceding the number, eg.-15,000, or parenthesis eg. (15,000)) Ending inventory-as reported 1. Included in the company's count were goods with a cost of 225,000 that the company is holding on consignment. The goods belong to Superior, Ltd. 2. The physical count did not include goods purchased by Crane with a cost of 35,000 that were shipped FOB destination on December 28 and did not arrive at Crane's warehouse until January 3. 3. Included in the inventory account was 15,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year.