See more Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory of $74,000 and Cost of Goods Sold of $428,000. Included In Inventory (and Accounts Payable) are $10.800 of lenses held on consuming. Included in the Inventory balance ace $5.400 of office supplies held in SLC's warehouse. Excluded from the Inventory balance are $8.400 of lenses in the warehouse ready to send to customers on January 1 SLC repeated these lenses as sold on December 31. at a price of $15.800. Included in the inventory balance are $3.200 of lenses that were damaged in Decembers and will be scrapped in January, with no recoverable value. Required: Prepare the table showing the balances presently reported for Inventory and Cost of Goods Sold, and then displaying the adjustment(s) needed to correctly account for each of items (a)-(d). and finally determining the appropriate Inventory and Cost of Goods Sold balances (Enter any decreases to account balances with a minus sign.)