Question: Kari Downs, an auditor with Wheeler CPAs, is performing a review of Sunland Company's inventory account. Sunland did not have a good year, and top

Kari Downs, an auditor with Wheeler CPAs, is performing a review of Sunland Company's inventory account. Sunland did not have a good year, and top management is under pressure to boost reported income. According to its records, the inventory balance at year- end was $745,000. However, the following information was not considered when determining that amount. (a1) Prepare a schedule to determine the correct inventory amount. (If an amount reduces the account balance then enter with a negative sign preceding the number, eg.-15,000, or parenthesis eg. (15,000). Enter 0 if there is no effect.) Ending inventory-as reported 1. 2. Included in the company's count were goods with a cost of $249,000 that the company is holding on consignment. The goods belong to Kroeger Corporation. The physical count did not include goods purchased by Sunland with a cost of $49,000 that were shipped FOB destination on December 28 and did not arrive at Sunland warehouse until January 3, 3. Included in the inventory account was $24,000 of office supplies that were stored in the

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