First Bank is considering giving Wildhorse Company a loan. First, however, it decides that it would be a good idea to have further discussions with Wildhorse's accountant. One area of particular concern is the imventory account, which has a December 31 balance of $342,820. Discussions with the accountant reveal the following: 1. The physical count of the imventory did not include goods that cost $115,900 that were shipped to Wildhorse, FOB shipping point, on December 27 and were still in transit at year end. 2. Wildhorse sold goods that cost $42,700 to Sandhill Company, FOB destination, on December 28. The goods are not expected to arrive at their destination in India until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 3. On December 31, Ayayai Company had $37,210 of goods held on consignment for Wildhorse. The goods were not included in Wildhorse's ending inventory balance. 4. Wildhorse received goods that cost $34,160 on January 2. The goods were shipped FOB shipping point on December 26 by Swifty Co. The goods were not included in the physical count. Determine the correct inventory amount at December 31