Concord Company just took its physical inventory. The count of inventory items on hand at the company$$s business locations resulted

in a total inventory cost of $$260,000.$ In reviewing the details of the count and related inventory transactions, you have discovered the

following items had not been considered.

$1.$ Concord has sent inventory costing $$21,000$ on consignment to Alissa Company. All of this inventory was at Alissa$$s

showrooms on December $31.$

$2.$ The company did not include in the count inventory $($cost$,$ $$20,000)$ that was sold on December $28,$ terms FOB shipping point.

The goods were in transit on December $31.$

$3.$ The company did not include in the count inventory $($cost$,$ $$13,000)$ that was purchased with terms of FOB shipping point. The

goods were in transit on December $31.$

Compute the correct December $31$ inventory.

Correct December $31$ inventory