Pina Colada Corp. just took its physical inventory on December 31. The count of inventory items on hand at the company's business locations resulted in a total inventory cost of $305,100. In reviewing the details of the count and related inventory transactions, you have discovered the following items that had not been considered.

1.Pina Colada Corp. has sent inventory costing $26,380 on consignment to Richfield Company. All of this inventory was at Richfield's showrooms on December 31.

2.The company did not include in the count inventory (cost, $20,390) that was sold on December 28, terms FOB shipping point. The goods were in transit on December 31.3.The company did not include in the count inventory (cost, $13,530) that was purchased with terms of FOB shipping point. The goods were in transit on December 31.

Compute the correct December 31 inventory.

Correct December 31 inventory $_______________

i thought it was

$ 305,100

<26,380>

<20,390>

+ 13,530

=$271,860 ????