Question 5 of 10 > -/ 4 View Policies Current Attemptin Progress Tri-State Bank and Trust is considering giving Crane Compeny a loan. Before doing so, management decides that further discussions with Crane's accountant may be desirable One area of particular concern is the inventory account, which has a year-end balance of $290,000. Discussions with the accountant reveal the following 11 Crane shipped goods costing $32.000 to Lilja Company, Foe shipping point on December 28. The goods are not expected to arrive at Lilja until January 12. The goods were not included in the physical inventory because they were not in the warehouse 21 The physical count of the inventory did not include goods costing $90.000 that were shipped to Crane FOB destination on December 27 and were still in transitat year-end 3. Crane received goods costing $20,000 on January 2. The goods were shipped FOB shipping point on December 26 by Brent Co The goods were not included in the physical count 4. Crane shipped goods casting $30.000 to Jesse Co. FOB destination on December 30. The goods were received at Jesse on January 8. They were not included in Crane's physical inventory 5. Crane received goods costing $40.000 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $290.000 Determine the correct inventory amount on December 31. Correct inventory $ e Textbook and Media Starter Attempts: 0 of 5 used Submit Answer Question 5 of 7 -14 The View Policies Current Attemptin Progress Swifty Company applied FIFO to its inventory and got the following results for its ending inventory. Dameras 140 units at a cost per unit of $61 Blu-ray players 150 units at a cost per unit of $73 Pods 140 units at a cost perunit of 583 The net realizable value at year-end was cameras $72. Blu-ray players 567 and iPods $76. Determine the amount of ending inventory at lower-of-cost-or-net realizable value Ending inventory $ eTextbook and Media Store Attempts: 0 of 5 used Submit