Kingbird, Inc. just took its physical inventory on December 31. The count of inventory items on hand at the companys business locations resulted in a total inventory cost of $320,600. In reviewing the details of the count and related inventory transactions, you have discovered the following items that had not been considered.

1.		Kingbird has sent inventory costing $30,700 on consignment to Richfield Company. All of this inventory was at Richfields showrooms on December 31.
2.		The company did not include in the count inventory (cost, $18,130) that was sold on December 28, terms FOB shipping point. The goods were in transit on December 31.
3.		The company did not include in the count inventory (cost, $13,130) that was purchased with terms of FOB shipping point. The goods were in transit on December 31.

Compute the correct December 31 inventory.

Correct December 31 inventory