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The Constance Corporation's inventory on December 3 1 , 2 0 2 4 , was $ 1 3 0 , 5 0 0 ( at

The Constance Corporation's inventory on December 31,2024, was $130,500(at cost) based on a physical count of inventory on hand, before any necessary adjustment for the following:
Inventory costing $20,500, shipped f.o.b. shipping point from a vendor on December 27,2024, was received by Constance on January 5,2025.
Inventory costing $50,500 was shipped to a customer f.o.b. shipping point on December 28,2024, arrived at the customer's location on January 6,2025.
Inventory costing $26,500 was being held on hand for Jess Company on consignment. This inventory was included in the physical count.
Estimated sales returns are 20% of annual sales. Sales revenue was $561,000 with a gross profit ratio of 30%.
What amount should Constance Corporation report as inventory in its December 31,2024, balance sheet?
Multiple Choice
A. $233,040
B.203,040
C. $235,665
D. $182,540
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