REQUIRED: Determine the correct amount for inventory at $\frac{12}{31}\frac{?}{23}.$ Show your work.

Brooklyn Nets Company has just completed a physical inventory count at year$-$end, December $31,2023.$ Only the items on the shelves, in storage, and in the receiving area were counted and costed$.$ The inventory amounted to $$85,000.$ You are the independent auditor. During the audit, you developed the following information:

A$)$ Goods costing $$8,500$ were being used by a customer on a trial basis and were excluded from the inventory count on December $31,2023.$

B$)$ Goods in transit on December $31,2023,$ from a supplier, with terms FOB destination cost $$9,000.$ Because these goods had not yet arrived, they were excluded from the inventory count on December $31,2023.$

C$)$ On December $31,2023,$ goods in transit to customers, with terms FOB shipping point, amounted to $$12,700($expected delivery date January $10,2024).$ Because the goods had been shipped, they were excluded from the inventory count on December $31,2023.$

D$)$ On December $28,2023,$ a customer purchased goods for cash amounting to $$5,000$ and left them for pickup on January $3,2024.$ Brooklyn Nets Stark Company had paid $$2,590$ for the goods and, because they were on hand, included the latter amount in the physical inventory count.

E$)$ On the date of the inventory count, Brooklyn Nets Company received notice from a supplier that goods ordered earlier at a cost of $$7,550$ had been delivered to the transportation company on December $27,2023$; the terms were FOB shipping point. Because the shipment had not arrived by December $31,2023,$ it was excluded from the inventory count. Brooklyn Nets Company plans on selling these items for $$14,000.$

F$)$ On December $30,2023$ the company shipped $$1,600$ worth of goods to a customer, FOB destination. The goods are expected to arrive at their destination no earlier than January $8,2024.$ Because goods were not on hand, they were not included in the physical inventory count. The A$/$R clerk is on vacation, however when she returns in January she will be instructed to send an invoice to the customer for $$3,250.$

G$)$ One of the items sold by Brooklyn Nets has such a low volume that management decided to drop it last year. To induce Brooklyn Nets to continue carrying the item, the manufacturer$/$suppplier $($Homets Inc.$)$ provided the item on a "consignment basis". This means that Hornets Inc. retains ownershipof the item, and Brooklyn Nets has no responsibility to pay for the items until they are sold to a customer. Each month, Brooklyn Nets sends a report to Hornets on the mumber sold and remits cash for the cost of $$250.$ At the end of December $2014,$ Brooklyn Nets had $6$ of these items on hand: therefore, they were included in the physical inventory count at the selling price of $$850.$

Pelican Enterprises purchased a machine on January $1,2016,$ by paying cash of $$575,000.$ The machine has an estimated useful life of five years, is expected to produce $500,000$ units, and has an estimated residual value of $$25,000.$

Units used: Year $1=70,000,$ Year $2=170,000,$ Year $3=185,000$

Year $4=15,000$ and Year $5=60,000$

Requirements:

Complete a separate depreciation schedule for each of the alternative methods.

Round your answer to the nearest dollar.

a$.$ Straight$-$line

b$.$ Units$-$of$-$production

c$.$ Double declining

$\backslash$table$[[$YEAR$,\backslash$table$[[$ORIGINAL$],[$COST$]],$DEPR EXP,$\backslash$table$[[$ACCUM$],[$DEPR$]],\backslash$table$[[$NET BOOK$],[$VALUE$]]],[1],[2],[3],[4],[5],[$Method:$],[$YEAR$,\backslash$table$[[$ORIGINAL$],[$COST$]],$DEPR EXP,$\backslash$table$[[$ACCUM$],[$DEPR$]],\backslash$table$[[$NET BOOK$],[$VALUE$]]],[1],[2],[3],[4],[5],[$Method:$],[$YEAR$,\backslash$table$[[$ORIGINAL$],[$COST$]],$DEPR EXP,$\backslash$table$[[$ACCUM$],[$DEPR$]],\backslash$table$[[$NET BOOK$],[$VALUE$]]],[1],[2],[3],[4],[5,,,,]]$