On December 31, Davis Company had an ending inventory of $73,700 based primarily on a physical count at its warehouse. In computing the final balance of Inventory, the following information was available:

(a) Inventory items with a cost of $3,820 were included in ending inventory. These goods were on consignment to Henderson Company. They had not yet been sold.

(b) Inventory items with a cost of $3,520 were excluded from ending inventory. These goods were in transit from Butler Company to Davis Company and were purchased FOB shipping point.

(c) Inventory items with a cost of $3,090 were included in ending inventory. These goods were in transit from Diaz Company to Davis Company and were purchased FOB destination.

Required:

Using the information given above, compute the correct final balance of Inventory.