Teal Mountain, Inc.'s inventory of $856,000at December 31, 2017, was based on a physical count of goods priced at cost. The total does not include any adjustments for the following items.

(a)Goods shipped from a vendor f.o.b. destination on December 24, 2017, at an invoice cost of $9,000toTeal Mountainwere received on January 4, 2018.These goods were excluded from the physical count.

(b)The physical count excluded goods held by a retailer (Deals Corp.) on consignment forTeal Mountain, Inc. The cost of these goods toTeal Mountainwas $35,500.Teal Mountaindid not record a sale when it shipped the goods to Deals.

(c)The inventory included $47,200of goods that were inTeal Mountain's warehouse on the morning of December 31, 2017 but were shipped to a customer f.o.b. shipping point later that day, after they had been included in the physical inventory count.

What inventory amount should appear onTeal Mountain's December 31, 2017 balance sheet?

I came up with $844,300

$856,000 + $35,500 - $47200