The merchandise inventory in Helen's Clothing Store was counted after the close of business on December 31, 2024, the company's year end. It was determined that the total cost of this inventory was $51,200. Helen wants to know if this is the correct amount that should be reported on the company's December 31,2024 , balance sheet or if an adjustment needs to be made for any of the following items: a. The count included items costing $1,200 that had been sold but were being held for alterations. The alterations have been completed and the customers have not yet picked up the items. The customers have paid in full for these items. b. Helen's Clothing Store has $4,450 of merchandise held on consignment for a local designer. These items were included in the inventory count. c. A shipment of inventory costing $2,650 was received on January 2,2025. It had been shipped by the seller on December 30 . FOB shipping point. Freight charges are $350. These items were not included in the inventory count. d. A second shipment of inventory costing $4,700 was received on January 3,2025 , It had been shipped by the seller on December 31, FOB destination. Freight charges are $380. These items were also not included in the inventory count. Determine the correct amount of Helen's Clothing Store's merchandise inventory at December 31, 2024. (Do not leave any answer field hinnk. Finter 0 for amounts. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses es. (45).) Determine the correct amount of Helen's Clothing Store's merchandise inventory at December 31, 2024. (Do not leave any answer field blank. Enter 0 for amounts, Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses es. (45).) The merchandise inventory in Helen's Clothing Store was counted after the close of business on December 31, 2024, the company's year end. It was determined that the total cost of this inventory was $51,200. Helen wants to know if this is the correct amount that should be reported on the company's December 31,2024 , balance sheet or if an adjustment needs to be made for any of the following items: a. The count included items costing $1,200 that had been sold but were being held for alterations. The alterations have been completed and the customers have not yet picked up the items. The customers have paid in full for these items. b. Helen's Clothing Store has $4,450 of merchandise held on consignment for a local designer. These items were included in the inventory count. c. A shipment of inventory costing $2,650 was received on January 2,2025. It had been shipped by the seller on December 30 . FOB shipping point. Freight charges are $350. These items were not included in the inventory count. d. A second shipment of inventory costing $4,700 was received on January 3,2025 , It had been shipped by the seller on December 31, FOB destination. Freight charges are $380. These items were also not included in the inventory count. Determine the correct amount of Helen's Clothing Store's merchandise inventory at December 31, 2024. (Do not leave any answer field hinnk. Finter 0 for amounts. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses es. (45).) Determine the correct amount of Helen's Clothing Store's merchandise inventory at December 31, 2024. (Do not leave any answer field blank. Enter 0 for amounts, Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses es. (45).)
