Item2 3 points eBook Hint Print References Check my work Check My Work button is now enabledItem 2 Item 2 3 points Exercise 8-6 Goods in transit [LO8-2] The Kwok Companys inventory balance on December 31, 2018, was $210,000 (based on a 12/31/18 physical count) before considering the following transactions: Goods shipped to Kwok f.o.b. destination on December 20, 2018, were received on January 4, 2019. The invoice cost was $39,000. Goods shipped to Kwok f.o.b. shipping point on December 28, 2018, were received on January 5, 2019. The invoice cost was $26,000. Goods shipped from Kwok to a customer f.o.b. destination on December 27, 2018, were received by the customer on January 3, 2019. The sales price was $49,000 and the merchandise cost $31,000. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2018, were received by the customer on December 30, 2018. The sales price was $29,000 and the merchandise cost $22,000. Goods shipped from Kwok to a customer f.o.b. shipping point on December 28, 2018, were received by the customer on January 4, 2019. The sales price was $34,000 and the merchandise cost $21,000. Required: Determine the correct inventory amount to be reported in Kwoks 2018 balance sheet.