On December 31, Williams Company had an ending inventory of $53,900 based primarily on a physical count at its warehouse. In computing the final balance ofInventory, the following information was available:(a)Inventory items with a cost of $3,490 were excluded from ending inventory. These goods were onconsignmentfrom Barnes Company and had not yet been sold on December 31.

(b)Inventory items with a cost of $3,620 were excluded from ending inventory. These goods were in transit from Williams Company to Butler Company and were soldFOB shipping point.

(c)Inventory items with a cost of $3,990 were excluded from ending inventory. These goods were in transit from Williams Company to Thompson Company and were soldFOB destination.

Correct ending inventory balance: