On December 31, Perry Company had an ending inventory of $77,000 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 $2,330 were excluded from ending inventory. These goods were on consignment to Alexander Company and had not yet been sold by December 31.

(b) Inventory items with a cost of $3,030 were included in ending inventory. These goods were in transit from Smith Company to Perry Company and were purchased FOB shipping point.

(c) Inventory items with a cost of $2,990 were excluded from ending inventory. These goods were in transit from Jones Company to Perry Company and were purchased FOB destination.

Required:

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