The inventory for Jasons company was $550,000 as of December 31, 2015, based on a physical inventory count, all goods are priced at cost, and no year-end adjustments have been made for the following goods:

a. Jasons company received goods on January 4, 2016, with an invoice cost of $34,500. The goods were shipped f.o.b. on December 24, 2015.

b. Suptic Corp was billed for $14,500 of goods f.o.b. shipping point on December 31, 2015. The goods were not picked up by the carrier until January 4, 2016, so they were included in the physical inventory.

What amount will be reported as inventory on the balance sheet?