it 6 - Chapter 7 X Slide 1 x Bb Accounting for Interest Paid wl x Chapter 8 Interest Presentation X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fpost.blackboard.com%252Fwebapps%252F... my Knowledge... f Facebook - Log In... @ Home - eBenefits myPay Web Site ww My Healthevet USAA / Welcome t... TurboTax@ Tax Pre. - Cell Phones, Sm 6 - Chapter 7 Homework Assignment i Saved Help Sav Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory of $88,000 and Cost of Goods Sold of $456,000. a. Included in Inventory (and Accounts Payable) are $13,600 of lenses SLC is holding on consignment. b. Included in SLC's Inventory balance are $6,800 of office supplies held in SLC's warehouse. c. Excluded from SLC's Inventory balance are $9,800 of lenses in the warehouse, ready to send to customers on January 2. SLC Print reported these lenses as sold on December 31, at a price of $18,600. d. Included in SLC's Inventory balance are $3,900 of lenses that were damaged in December and will be scrapped in January, with zero realizable value. Required: Prepare the table showing the balances presently reported for Inventory and Cost of Goods Sold, and then displaying the adjustment(s) needed to correctly account for each of items (a)-(d), and finally determining the appropriate Inventory and Cost of Goods Sold balances. (Enter any decreases to account balances with a minus sign.) Inventory Cost of Goods Sold Present Balance $ 88,000 $ 456,000 a. 13,600) 13,600) b . (6,800) 9,800 18,600 d. (3,900) (3,900 Appropriate Balance 73,500 $ 457, 100 Mc Grav Prev. 1 of 3 Next > F2 BO F3 BOB FA FS F6 F7 FB F9 F10 4) S &