Sherman,Inc $\$ 2,000$ Of Goods Shipped by a Supplier to Sherman Sent FOB

Multiple Choice

Sherman,Inc.counted its ending inventory as $178,000 at year-end,January 31,2017.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 Sherman sent FOB destination point on January 31 were received February 5 , and were not counted by Sherman.

B) $\$ 5,000$ of goods shipped by a supplier to Sherman sent FOB shipping point on January 30 were received February 2, and were not counted by Sherman.

C) $\$ 6,000$ of goods shipped by Sherman to a customer sent FOB shipping point on January 31 were received February 3 , and were counted by Sherman. Determine the correct inventory balance at January 31.

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