Question 15/26

Bonita Company took a physical inventory on December 31 and determined that goods costing $210,000 were on hand. Not inciuded in the physical count were $24,000 of goods purchased from Metlock Corporation, FOB, shipping point, and $24,500 of goods sold to Whispering Winds Company for $34,000,FOB destination. Both the Metlock purchase and the Whispering Winds sale were in transit at year-end. What amount should Bonita report as its December 31 inventory? Ending inventory