Question 4 of 4 11 View Policies: Current Attempt in Progress Sheridan Furniture took a physical inventory on December 31 and determined that goods costing 220,000 were on hand Not ineluded in the physical count were 621,000 of goods purchased from Pelzer Corporation, FOB shipping point, and 618,000 of goods sold to Alvarez Company for 626,000 , FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year end, What amount should Sheridan report as its December 31 inventory