Oriole Company took a physical inventory on December $31$ and determined that goods costing $$220,000$ were on hand. Not included in the physical count were $$27,500$ of goods purchased from Pelzer Corporation, FOB, shipping point, and $$24,200$ of goods sold to Alvarez Company for $$33,000,$ FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year$-$end.

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