BlueBird Company$$s inventory balance on December $31,$ year $1,$ was $$175,000($based on a $12/31/$year $1$ physical count$)$ before

considering the following transactions:

$1.$ Goods shipped to BlueBird f$.$o$.$b$.$ destination on December $20,$ year $1,$ were received on January $4,$ year $2.$ The invoice cost was

$$40,000.$

$2.$ Goods shipped to BlueBird f$.$o$.$b$.$ shipping point on December $28,$ year $1,$ were received on January $5,$ year $2.$ The invoice cost

was $$18,000.$

$3.$ Goods shipped from BlueBird to a customer f$.$o$.$b$.$ destination on December $27,$ year $1,$ were received by the customer on

January $3,$ year $2.$ The sales price was $$42,000$ and the merchandise cost $$24,500.$

$4.$ Goods shipped from BlueBird to a customer f$.$o$.$b$.$ destination on December $26,$ year $1,$ were received by the customer on

December $30,$ year $1.$ The sales price was $$21,500$ and the merchandise cost $$14,200.$

$5.$ Goods shipped from BlueBird to a customer f$.$o$.$b$.$ shipping point on December $28,$ year $1,$ were received by the customer on

January $4,$ year $2.$ The sales price was $$27,500$ and the merchandise cost $$12,500.$ Determine the correct inventory amount to be reported in BlueBird$$s year $1$ balance sheet