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hi everyone welcome to practice problem inventory 10. in this one im going to test your knowledge at what to include or exclude from your inventory balance so here we go tire core formed a physical count and valuation of its inventory on december 31st and it determined that it had inventory on hand worth 225 thousand dollars however they took some notes about what they either included or didnt include in that inventory based on that given information determine the balance tiger core should report on its december 31 balance sheet take a moment see if you can figure this one out on your own when youre ready come on back and ill walk you through the solution all right welcome back so here we go im going to start off im going to keep just kind of a running tally on the side here were going to start off at 225 000 and that was the physical count number okay so thats what the company thinks its inventory is valued at and now im going to go through each piece of information determin