Seemore lens company (slc) manufactures and sells contact lenses. for the year ended december 31, the company reported inventory of $77,000 and cost of goods sold of $434,000. a. included in inventory (and accounts payable) are $11,400 of lenses held on consignment. b. included in the inventory balance are $5,700 of office supplies held in slc’s warehouse. c. excluded from the inventory balance are $8,700 of lenses in the warehouse, ready to send to customers on january 1. slc reported these lenses as sold on december 31, at a price of $16,400. d. included in the inventory balance are $3,350 of lenses that were damaged in december and will be scrapped in january, with no recoverable value journal entry worksheet for: 1. seemore lens company (slc) manufactures and sells contact lenses. for the year ended december 31, the company reported inventory of $77,000 and cost of goods sold of $434,000. a. included in inventory (and accounts payable) are $11,400 of lenses held on consignment. b. included in the inventory balance are $5,700 of office supplies held in slc’s warehouse. c. excluded from the inventory balance are $8,700 of lenses in the warehouse, ready to send to customers on january 1. slc reported these lenses as sold on december 31, at a price of $16,400. d. included in the inventory balance are $3,350 of lenses that were damaged in december and will be scrapped in january, with no recoverable value 2. included in the inventory balance are $5,700 of office supplies held in slc’s warehouse. record the transaction. 3. excluded from the inventory balance are $8,700 of lenses in the warehouse, ready to send to customers on january 1. record the transaction. 4. slc reported these lenses as sold on december 31, at a price of $16,400. record the transaction. 5. included in the inventory balance are $3,350 of lenses that were damaged in december and will be scrapped in january, with no recoverable value. record the transaction.