C. INVENTORY TESTING (15 POINTS) You observed the physical inventory of goods in the warehouse on December 31, 202x as part of the annual audit, and were satised that it was properly taken. When performing a w and purchases cutoff test, you found that at December 31, 202K, the last receiving report that had been used was no. 1063 and that no lrther shipments have been made on any sales invoices with numbers larger than no. 968. The Company is in the wholesale business and makes all sales at 25% over cost. You also obtained the following additional information: a) b) C) d) Included in the warehouse physical inventory g December 31, 202K, were items that had been acquired and received on receiving report no. 1060 but for which an invoice was not received until the year 202Y. Cost was $2,183. In the warehouse g December 31, 202x, were goods that had been sold and paid for by a customer but which were not shipped out until the year 202Y when title passed. They were all sold on sales invoice no. 965 for $5,195 and were not inventoried since the customer already paid. On the evening of December 31, 202K, there was one rail car on our client's rail siding within the client's own rail yard not included in inventory: AR381967 was unloaded on January 2, 202Y, and received on the December 31St receiving report no. 1063 related to a purchase of $8,120. The freight was paid by the vendor. Temporarily stranded a; December 31, 202K on a railroad siding (not the client's) were two cars of inventory en route to a customer. They were sold on sales invoice no. 966 for $19,270, and the terms were FOB destination. En route to our client on December 31, 202K, was a truckload of material that was received on receiving report no. 1064. The material was shipped FOB destination, and freight of $75 was paid by our client. However, the freight was deducted from the purchase price of $975. Compute the adjustments that should be made to the client's physical inventory a_t December 31, 202K as a result of each of the above transactions. For each letter, show the adjustment (with any calculations) if any and explain why it does or B does not affect invento . Then rovide the total of ad'ustrnents. Note not all entries are worth the same number of noints