46. River Company has inventory of $650,000 in its stores as of December 31 based on a physical count priced at cost, along with the following transactions:

Sold merchandise costing $76,000, shipped f.o.b. destination, to a customer on December 28, arrived at the customer's location on January 6, 2018.

Purchased merchandise costing $60,000, shipped f.o.b. shipping point, from a vendor on December 30, 2017, was received on January 5, 2018.

Purchased merchandise costing $44,000, shipped f.o.b. destination, from a vendor on December 28, 2017, was received on January 3, 2018.

Merchandise costing $24,000 was being held on consignment by Brickman Company

What amount of inventory should River Company report on its balance sheet as of December 31?

A. 650,000

B. 734,000

C. 810,000

D. 854,000

34. Florida Pharmaceuticals exchanged laser equipment with a book value of $70,000 and a fair value of $85,000 for the similar old model of laser equipment. In addition to the old equipment, $8,000 in cash was given. The exchange is deemed to have no commercial substance. Florida should record the acquired laser equipment at:

A. $70,000.

B. $78,000.

C. $83,000.

D. All of these answer