Coronado Company took a physical inventory on December 31 and determined that goods costing $199,600 were on hand. Not included in the physical count were $23,940 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $20,700 of goods sold to Alvarez Company for $32,580, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Coronado report as its December 31 inventory?

December 31 inventory

$enter inventories at December 31 in dollars