Scott Inc. had just finished its inventory count for year-end 2021, and noted the following items in its warehouse:

Product A: 100 units @ $50 per unit

Product B: 200 units @ $75 per unit

Product C: 100 units @ $80 per unit

The controller discovered three unprocessed inventory purchase orders on their desk after the inventory count was completed. The purchase orders contained the following information:

• 500 units of Product A, at $55 per unit, shipped FOB shipping point on December 29, 2021. The inventory was received on January 5, 2022.
• 250 units of Product B, at $68 per unit, shipped FOB destination on December 17, 2021. The inventory arrived on December 30, 2021.
• 250 units of Product C, at $85 per unit, shipped FOB destination on December 28, 2021. The inventory was received on January 2, 2022.

What is the value of ending inventory that Scott should record on December 31, 2021?

Question 1 options:

	$35,000
	$72,500
	$65,750
	$55,500