it 6- Chapter 7 Homework Assignment i Saved 2 E7-3 Recording Journal Entries to Correct Inventory Misreporting [LO 7-1, LO 7-2, LO 7-4 Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year endedDecember 31, the company reported Inventory of $76,000 and Cost of Goods Sold of $432,000. nts a. Included in Inventory (and Accounts Payable) are $11,200 of lenses SLC is holding on consignment. b. Included in SLC's Inventory balance are $5,600 of office supplies held in SLC's warehouse. c Excluded from SLC's Inventory balance are $8.600 of lenses in the warehouse, ready to send to customers on January 2. SLC reported these lenses as sold on December 31, at a price of $16.200. d Included in SLC's Inventory balance are $3,300 of lenses that were damaged in December and will be scrapped in January, with zero realizable value. Print Required: For each item, (a)-(d), prepare the journal entry to correct the balances presently reported, (If no entry is required for e transaction/event, select "No Journel Entry Required" in the first account field.) View transaction list Journal entry worksheet 5