Stallman Company took a physical inventory on December 31 and determined that goods costing $180,000 were on hand. Not included in the physical count were $26,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $23,000 of goods sold to Alvarez Company for $31,000 FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Stallman report as its December 31 inventory?}