Sheridan Company took a physical inventory on December 31 and determined that goods costing $184,000 were on hand. Not included in the physical count were $23,000 of goods purchased from Pelzer Corporation, FOB, shipping point, and $20,240 of goods sold to Alvarez Company for $27,600, 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? Ending imventory