Sunland Bank and Trust is consldering glving Alou Company a loan. Before doing so, management decide that further discussions with Alou's accountant may be desirable. One area of particular concern is the inventory account, whichras a year-end balance of f295,500. Discussions with the accountant reveal the following. 1. Alou sold goods costing 39.700 to Comerico Company, FOB shipping point, on December 28 . The goods are not expected to arrive at Comerico until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 2. The physical count of the irventory did not include 8 oods costing 96.600 that were shipped to Alou FOB destination on December 27 and were still in transit at year-end. 3. Alou recelved goods costing 22,600 on January 2 The goods were shipped FOB shipping point on December 26 by Grant Co. The goods were not included in the physical count. 4. Alou sold goods costing 33,200 to Emerick Co. FOB destination, on December 30 . The goods were received at Emerick on January 8 . They were not included in Alous physical inventory. 5. Alou recelved goods costing 43,000 on January 2 that were shipged FOB shipping point on Decernber 29, The shipment was a rush order that was supposed to arrive December 31 . This purchase was included in the ending inventory of 295,500. Determine the correct inventory amount on December 31. The correct inventory amount Coronado Camera Shop uses the lower of cost or net realizable value basis for is inventory. The followins dat are avaliable at December 31 Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis. Bonita Stores uses the retail imventory method for its two departments, Women's Shoes and Meris Shoes. The following information for each department is obtained, Compute the estimated cost of the ending inventory for each department under the retail ifventory method, (Round arsivers to 0 decinol ploces, es $25,120J