The Constance Corporations inventory on December 31, 2024, was $132,000 (at cost) based on a physical count of inventory on hand, before any necessary adjustment for the following:

• Inventory costing $22,000, shipped f.o.b. shipping point from a vendor on December 27, 2024, was received by Constance on January 5, 2025.
• Inventory costing $52,000 was shipped to a customer f.o.b. shipping point on December 28, 2024, arrived at the customers location on January 6, 2025.
• Inventory costing $28,000 was being held on hand for Jess Company on consignment.
• Estimated sales returns are 20% of annual sales. Sales revenue was $564,000 with a gross profit ratio of 30%.

What amount should Constance Corporation report as inventory in its December 31, 2024, balance sheet?