A physical count of XYZ Companys inventory showed it had finished goods inventory of $250,000. The following items were excluded from this amount:

Consignment inventory from ABC Company	$25,000
Goods in transit to a customer, FOB destination	$10,000
Goods in transit from one of XYZs suppliers, FOB shipping point	$12,000
Obsolete inventory that cannot be sold	$ 2,000

Based on this information, XYZ Company should show its ending inventory balance on the balance sheet at:

$299,000

$275,000

$260,000

$272,000