Problem # 5. Items to be included in the inventory hone incurred the following costs in relation to its merchandise inventory: Items in the warehouse during the count 1,090,000 2. Items out on consignment at another company's site 70,000 3. Items sold on an installment basis (bad dets can be reasonably estimated). 40,000 4. Items purchased FOB shipping point that is in transit at December 31 500,000 5. Freight charges on goods purchased above 13,000 6. Items purchased FOB destination that is in transit at December 31 300,000 7. Items sold to another company, for which the company has signed an agreement to repurchase at a set price that covers all cost related to the inventory. Total cost of merchandise is 200,000 8. Items sold where large returns are predictable, at cost 30,000 9. Items sold FOB shipping point that is in transit at December 31, at cost 50,000 10 Items sold FOB destination that is in transit at December 31, at cost 75,000 Costs incurred to advertise goods held for resale 10,000 12 Items held on consignment from another company at selling price of P150,000 and cost of 100,000 13 | Short term investments in stocks and bonds that will be resold in the near future 125,000 14 Items currently being used for window display 100,000 15 Items on counter for sale 400,000 16 | Items on receiving dept. refused by the company because of damage 360,000 17 Items induded in the count , damaged and unsaleable 150,000 18 Items in receiving dept., returned by customer, in good condition (not included in the count) 50,000 19 Merchandise inventories out on approval, at cost 100,000 Finished i special article goods , made to order (included in the count) 78,000 Office supplies 40,000 What is the correct amount of inventory? a. 2,370,000 b. 2,410,000 C. 2,440,000 d. 2,490,000