Kingbird, Inc.took a physical inventory on December 31 and determined that goods costing $190,000were on hand. Not included in the physical count were $27,000of goods purchased from Pelzer Corporation, FOB shipping point, and $23,000of goods sold to Alvarez Company for $30,800, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end.

What amount shouldKingbirdreport as its December 31 inventory?