Inventory Cut-Off at December 31, 2020, Dakota Corp.'s Perpetual Inventory Showed as Showed

Inventory cut-off
At December 31, 2020, Dakota Corp.'s perpetual inventory showed as $43,100 in the general ledger. Towards the end of 2020, a new approach for compiling inventory was used and apparently a satisfactory cut-off for preparation of financial statements was not made. Some events that occurred are as follows:
1. Units shipped to a customer January 2, 2021, costing $6,000, were included in inventory at December 31, 2020. The sale was recorded in 2021.
2. Units costing $25,000 received December 30, 2020, were recorded as received on January 2, 2021.
3. Units received during 2020, costing $4,300 were recorded twice in the general ledger.
4. Units shipped to a customer December 28, 2020, FOB shipping point, which cost $14,000, were not received by the customer until January 2021. The units were included in the ending inventory.
5. Units on hand that cost $5,600 were never recorded on the books.
Instructions
Calculate the correct inventory at December 31, 2020.

Correct Answer:

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