Swiftian Productions, Inc. uses a perpetual inventory system. On January $1,2023,$ its inventory account had a beginning balance of $$9,500,000.$

The company engaged in the following transactions during the year:

Purchased merchandise inventory for $$11,250,000$

Generated net sales of $$45,260,000$

Reported inventory shrinkage of $$23,000$ after taking a year$-$end physical inventory.

Reported gross profit for the year of $$32,000,000$ in the firm's income statement.

a$.$ Calculate the cost of goods sold $($COGS$)$ reported in the firm's year$-$end income statement.

b$.$ Calculate the amount of merchandise inventory reported in the firm's year$-$end balance sheet.