Buffalo Company reported a December $31$ ending inventory balance of $$412,000.$ The following additional information is also available:

The ending inventory balance of $$412,000$ did not include goods costing $$48,000$ that were purchased by Buffalo on December $28$ and shipped FOB destination on that date. Buffalo did not receive the goods until January $2$ of the following year.

The ending inventory balance of $$412,000$ included damaged goods at their original cost of $$38,000.$ The net realizable value of the damaged goods was $$10,000.$

Based on this information, the correct balance for ending inventory on December $31$ is: