The records of Belknap Company show the following data as of January 31, the end of the fiscal year. Determine the value of the ending mer¬

chandise inventory.

a. Cost of goods on hand, based on physical count, $204,330.

b. Cost of defective goods (to be thrown away) included in

a, $328.

c. Cost of goods shipped out FOB destination on January 30, with an expected delivery date of approximately four days, $2,832; not included in a.

d. Goods purchased January 28, FOB shipping point, delivered to the transpor¬

tation company on January 31, $1,120; not included in a.

e. Cost of goods sold to a customer on January 30, paid for in full and awaiting shipping instructions, $1,818; not included in a.

P.0.1 Calculate the value of ending inventory.