Wendt, Inc

Multiple Choice

Wendt, Inc.counted its ending inventory as $178,000 at year-end, January 31, 2014.Upon review of the records, it was noted that the following items were in transit during the count:
A. $2,000 of goods shipped by a supplier to Wendt sent FOB destination on January 31 were received February 5, and were not counted by Wendt.
B. $5,000 of goods shipped by a supplier to Wendt sent FOB shipping point on January 30 were received February 2, and were not counted by Wendt.
C. $6,000 of goods shipped by Wendt to a customer FOB shipping point on January 31 were received by the customer February 3, and were counted by Wendt.
Determine the correct inventory balance at January 31.

A) $178,000
B) $177,000
C) $174,000
D) $172,000