ABC Co. took a physical inventory on December 31, 2019, and determined that 400,000 SR of goods were on hand. In addition, the following items were included in the physical count: ABC Co. determined that 60,000 SR of purchased goods were in transit and were shipped FOB destination. The company sold 25,000 SR worth of inventory FOB destination. What amount should ABC report as inventory at the end of the year? Select one: a. 425,000 SR b. 375,000 SR c. 410,000 SR d. 340,000 SR Next page