Blossom Companytook a physical inventory on December 31 and determined that goods costing $221,500were on hand. Not included in the physical count were $28,000of goods purchased fromSplish Brothers Inc., FOB, shipping point, and $28,000of goods sold toNovak Corp.for $30,000, FOB destination. Both theSplish Brotherspurchase and theNovaksale were in transit at year-end.

What amount shouldBlossomreport as its December 31 inventory?