On December 31, Hayes Company had an ending inventory of $52,900 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 $3,170 were included in ending inventory. These goods were on consignment to Howard Company. They had not yet been sold. (b) Inventory items with a cost of $3,930 were exduded from ending inventory. These goods were in transit from Cook Company to Hayes Company and were purchased FOB shipping point. (c) Inventory items with a cost of $2,120 were included in ending inventory. These goods were in transit from King Company to Hayes Company and were purchased FOB destination. Required: Using the information given above, compute the correct final balance of Inventory. Correct ending inventory balance