$326,600. Discussions with the company accountant reveal the following. 1. 2. 3. 4. 5. (a) Pharoah received goods costing $49,600 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive on December 31. This purchase was included in the ending inventory of $326,600. Pharoah sold goods costing $41,600 to Cusa Company, FOB shipping point, on December 28 for $65,600. The goods are not expected to arrive at Cusa until January 12. The goods were not included in the physical inventory because they were not in the warehouse. The physical count of the inventory did not include goods costing $89,600 that were shipped FOB destination to Pharoah on December 27 and were still in transit at year-end. Pharoah received goods costing $27,600 on January 2. The goods were shipped FOB shipping point on December 26 by Noble Co. The goods were not included in the physical count. Pharoah sold goods costing $38,600 to Limerick Co. for $55,600. The goods were shipped FOB destination on December 30. The goods were received by Limerick on January 8 and were not included in Pharoah's physical inventory. Determine Pharoah's correct inventory amount on December 31. Correct inventory amount $

$326,600. Discussions with the company accountant reveal the following. 1. Pharoah received goods costing $49,600 on January 2 that were shipped FOB destination on December 29 . The shipment was a rushorder that was supposed to arrive on December 31. This purchase was included in the ending inventory of $326,000 2. Pharoah sold goods costing $41,600 to Cusa Company, FOB shipping point, on December 28 for $65,600, The goods are not expected to arrive at Cusa until January 12. The goods were not included in the physical inventory because they were not in the warchouse, 3. The physical count of the inventory did not include goods costing $89,600 that were shipped FOB destination to Pharoah on December 27 and were still in transit at year-end. 4. Pharoah recelved goods costing $27,600 on January2. The goods were shipped FOB shipping point on December 26 by Noble Co. The goods were not included in the physical count. 5. Pharoah sold eoodscosting $38,600 to Limerick Co. for $55,600. The goods were shipped FOB destination on December 30 . The goods were recelved by Limerick on January 8 and were not included in Pharoah's physical inventory. (a) Determine Pharoahis correct inventory amount on December 31