35 3 The December 31, 2021, yearend Inventory balance of the Raymond Corporation is $218,000. You have been asked to review the following transactions to determine if they have been correctly recorded 1. Goods shipped to Raymond to b. destination on December 26, 2021 were received on January 2, 2022. The invoice cost of $34,000 included in the preliminary Inventory balance 2. At year-end, Raymond hield $18,000 of merchandise on consignment from the Harrison Company. This merchandise is included in the preliminary inventory balance 3. On December 20, merchandise costing $6.400 was shipped to a customer to shipping point and arrived at the customer's location on January 3, 2022. The merchandise is not included in the preliminary inventory balance 4. At year-end, Raymond had merchandise costing $10,000 on consignment with the Jaclyn Corporation. The merchandise is not included in the preliminary Inventory balance Required: Determine the correct inventory amount to be reported in Raymond's 2021 balance sheet. Corectory