Orlando Store took a physical inventory on June 30, and determined that goods costing $ 280,000 were on hand. This is not included in the physical count of goods purchased from Brad Supplies on June 15, FOB Shipping point, and $ 120,000 of merchandises sold to Benjamin Clothes, FOB destination. Both Brad purchased and Benjamin sales were in transit at year-end. What the amount should Orlando report as its June 30 inventory?