Metlock Company took a physical inventory on December $31$ and determined that goods costing $$185,000$ were on hand. Not

included in the physical count were $$24,080$ of goods purchased from Pelzer Corporation, f$.$o$.$b$.$ shipping point, and $$20,810$ of goods

sold to Alvarez Company for $$32,070,$ f$.$o$.$b$.$ destination. Both the Pelzer purchase and the Alvarez sale were in transit at year$-$end.

What amount should Metlock report as its December $31$ inventory?

December $31$ inventory