Gatineau Bank is considering giving Marigold Corporation a short$-$term bank loan. Before doing so$,$ it decides that further discussions with Marigold's accountant may be desirable. One area of particular concern is the Inventory account, which, according to a recent physical inventory count, has a balance of $$274,000$ at December $31.$ This count agreed with the accounting records. Discussions with the accountant revealed the following:

Marigold sold goods costing $$32,900$ to India$-$based Moghul Company, FOB destination, on December $28.$ Marigold does not expect the goods to arrive in India until January $12.$ The goods were not included in the physical inventory count, because they were not in the warehouse.

The physical inventory count did not include goods costing $$102,900$ that a supplier shipped to Marigold, FOB shipping point, on December $27$ and that were still in transit at year end.

Marigold received goods costing $$29,600$ on January $2.$ The goods were shipped FOB shipping point on December $26$ by Cellar Corp. The goods were not included in the physical inventory count.

Marigold sold goods costing $$53,100$ to United Kingdom$-$based Sterling of Britain Ltd$.,$ FOB shipping point, on December $30.$ Sterling received the goods on January $8.$ They were not included in Marigold's physical inventory count.

On December $31,$ Schiller Corporation had $$30,500$ of goods held on consignment for Marigold. The goods were not included in the physical inventory count.

Included in the physical inventory count were $$15,800$ of parts for outdated products that the,company had not been able to sell. It is unlikely that these obsolete parts will have any other use.

$($a$)$

Determine the correct inventory amount on December $31.$

Ending inventory physical count

$

$1.$

$2.$

$3.$

$4.$

$5.$

$6.$ Correct inventory