physical inventory at the end of the year was $795,000 of goods on hand. in addition, the following items were not considered when taking the final physical count: $40,500 of goods purchased FOB destination and in transit at the year-end arrived two days after year-end. additionally, because of high rates of return on some products, company has established an estimate of items that will be returned of $30,000. What amount should be reported in year-end balance sheet for the inventory account