Swifty Inc. took a physical inventory at the end of the year and determined that $842000 of goods were on hand. In addition, the following items were not included in the physical count. Swifty determined that $96000 of goods purchased were in transit. The goods were shipped fo.b. destination and were received by the company three days after the inventory count. The company had also sold $40000 worth of inventory that was shipped fo.b. destination and had not been received by the buyer as of year-end. What amount should Swifty report as inventory at the end of the year? $882000 $842000 $978000 $938000