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Exercise 6-1 Exel Buffalo Bank and Trust is considering giving Alou Company a loan. Before doing so, management decide that further Buff discussions with Alou's accountant may be desirable. One area of particular concern is the inventory account, wh One year-end balance of E330,620. Discussions with the accountant reveal the following. 1. Alou sold goods costing E37410 to Comerico Company, FOB shipping point, on December 28. The goods are not expected to arrive at Comerico until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 2. 2. The physical count of the inventory did not include goods costing E95, 150 that were shipped to December 27 and were still in transit at year-end. 3. Alou received goods costing E Grant Co. The goods were not included in the physical count. 4. Alou sold goods costing 48,040 to Emerick Co., FOB Emerick on January 8. They were not included in Alous physical inventory 5. Alou received goods costing 49,370 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of E330,620. Alou FOB destination on t on December 26 by 4 destination, on December 30. The goods,were received at 5 Dete The Determine the correct inventory amount on December 31. The correct inventory amount Question Attempts: 0 of 2 used By a answer this question correctly i attempt

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