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Umatilla Bank and Trust is considering giving Blossorn Compary a loan. Betore doing so, it decides that further discussions with Blossomis accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $286,950. Discussions with the accountant reveal the following: 1. Blossam shipped goods costing $53,940 to 5 plish Company FOB shipping point on December 28 . The goods are not expected to reach Splish until january 12 The goods were not included in the physical inventory because they were not in the warehouse. 2. The physical count of the imventory did not include goodscosting $97,100 that were shipped to Blossom FOB destination on December 27 and werestill in transit at year-end. 3. Blossom received goods costing $26,120 on January 2 . The goods were shipped FoB shipping point on December 26 by Yanice Co. The goods were not included in the physical count. 4. Blossom shipped goods costing $55,230 to Ehler of Canada FOB destination on December 30 . The goods were received in Canada on January 8 . They were not included in Blossom's physical inventory. 5. Blossoen received goods costing $38,960 on January 2 that were shipped FoB destination on December 29. The shipment was a rush order that was supposed to arrive December 31 . This purchase was included in the ending inventory of $286,950 Determine the correct inventory amount on December 31 Correct inventoryamount on December 31 3