A. The Pepita Company inventory at December 31, 2021, was $325,000 based on a physical count priced at cost, and before any necessary adjustment for the following: Merchandise costing $30,000, shipped f.o.b. shipping point from a vendor on December 30, 2021, was received on January 5, 2022. Merchandise costing $22,000, shipped f.o.b. destination from a vendor on December 28, 2021, was received on January 3, 2022. Merchandise costing $38,000 was shipped to a customer f.o.b. destination on December 28, arrived at the customer's location on January 6, 2022. Merchandise costing $12,000 was being held on consignment by Traynor Company. What amount should Pepita Company report as inventory in its December 31, 2021, balance sheet?