As a result of a thorough physical inventory, Sheffield Company determined that it had inventory worth $$321400$ at December $31,2020.$ This count did not take into consideration the following facts: Herschel Consignment currently has goods worth $$46100$ on its sales floor that belong to Sheffield but are being sold on consignment by Herschel. The selling price of these goods is $$74600.$ Sheffield purchased $$21500$ of goods that were shipped on December $27,$ FOB destination, that will be received by Sheffield on January $3.$

Determine the correct amount of inventory that Sheffield should report.

$$321400.$

$$367500.$

$$374500.$

$$389000.$