Wildhorse Company is concerned about the accuracy of its year-end inventory balance. Inventory shows a year-end balance of $327,100. Discussions with the company accountant reveal the following, 1. Wildhorse received goods costing $50,100 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive on December 31 . This purchase was included in the ending inventory of $327.100. 2. Wildhorse sold goods costing $42,100 to Cusa Company, FOB shipping point, on December 28 for $66,100. The goods are not expected to arrive at Cusa until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 3. The physical count of the inventory did not include goods costing $90,100 that were shipped FOB destination to Wildhorse on December 27 and were still in transit at year-end. 4. Wildhorse received goods costing $28,100 on . Nanuary 2. The goods were shipped FOB shipping point on December 26 by Noble Co. The goods were not included in the physical count. 5. Wildhorse sold goods costing $39,100 to Limerick Co. for $56,100. The goods were shipped FOB destination on December 30. The goods were received by Limerick on January 8 and were not included in Wildhorse's physical inventory. Determine Wildhorse's correct inventory amount on December 31 . Correct inventory amount $ Using the perpetual inventory system, what correcting entry would have to be made for item 4 ? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)