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

I know that the correct ending inventory would be $514,000. However, why would we not deduct the $74,000 in goods sold by Mohling with terms FOB destination? I thought that the inventory only transfers ownership once the goods arrive at the destination.