Question 15 (5 points) Raider Co. performed a physical inventory count of the goods in its warehouse on December 31, 2020. This count resulted in inventory costing $700,000 before considering the following: 1) Goods shipped f.o.b. shipping point from a supplier on December 27, 2020 were received by Raider on January 2, 2021. The invoice cost for this shipment was $35,000. 2) On December 28, 2020, Raider shipped goods f.o.b. destination to a customer. The customer notified Raider that it received the goods on January 3, 2021. The cost of this inventory was $50,000. 3) Goods shipped f.o.b. destination from a supplier on December 24, 2020 were received by Raider on January 5, 2021. The invoice cost for this shipment was $25,000. 4) On December 26, 2020, Raider shipped goods f.o.b. shipping point to a customer. The customer notified Raider that it received the goods on January 7, 2021. The cost of this inventory was $15,000. 5) Included in the above physical inventory count were goods costing $10,000 held on consignment for Wright, Inc. What is the correct amount of inventory for Raider at December 31, 2020