Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory of $78,000 and Cost of Goods Sold of $436,000. Included in Inventory (and Accounts Payable) are $11,600 of lenses SLC is holding on consignment. Included in SLCs Inventory balance are $5,800 of office supplies held in SLCs warehouse. Excluded from SLCs Inventory balance are $8,800 of lenses in the warehouse, ready to send to customers on