Return to aquestic Exercise 8-6 Goods in transit [LO8-2] on a 12/31/18 physical count) before considering The Kwok Company's inventory balance on December 31, 2018, was $190,000 (based the following transactions: 1 Goods shipped to Kwok f.o.b. destination on December 20, 2018, were received on January 4, 2019. The invoice cost was $35,000 2 Goods shipped to Kwok fo.b. shipping point on December 28, 2018, were received on January 5, 2019. The invoice cost was $22.000. 3. Goods shipped from Kwok to a customer fo.b. destination on December 27, 2018, were received by the customer on January 3, 2019. The sales price was $45,000 and the merchandise cost $27,000. 4. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2018, were received by the customer on December 30, 2018. The sales price was $25.000 and the merchandise cost $18,000. 5. Goods shipped from Kwok to a customer fo.b. shipping point on December 28, 2018, were received by the customer on January 4 2019. The sales price was $30,000 and the merchandise cost $17,000. Required: Determine the correct inventory amount to be reported in Kwok's 2018 balance sheet Answer is complete but not entirely correct. Correct inventory balance 244.000 Next> 3 of 15