Culiumber Company took a physical inventory on December 31 and determined that goods costing $150,000 were on hand. Not included in the physical count were $20,000 of goods purchased from Peizer Corporation, FOB shipping point, and $21,000 of goods sold to Alvarez Company for $28,000,FOB destination. Both the Peizer purchase and the Alvarez sale were in transit at yearnend. What amount should Cullumber report asits December 31 inventory? Inventory, December 31