At December 31, 2017 Mohling Companys inventory records indicated a balance of $632,000.

Upon further investigation it was determined that this amount included the following:

-	$112,000 in inventory purchases made by Mohling shipped from the seller 12/27/17 terms FOB destination, but not due to be received until January 2nd
-	$74,000 in goods sold by Mohling with terms FOB destination on December 27th. The goods are not expected to reach their destination until January 6th.
-	$6,000 of goods received on consignment from Dollywood Company

What is Mohlings correct ending inventory balance at December 31, 2017?

		$520,000
		$636,000
		$514,000
		$440,000