The Kwok Company's inventory balance on December 31, 2011, was $167,000 (based on a 12/31/11 physical count) before considering the following transactions: 1. Goods shipped to Kwok f.o.b. destination on December 20, 2011, were received on January 4, 2012. The invoice cost was $30,000. 2. Goods shipped to Kwok f.o.b. shipping point on December 28, 2011, were received on January 5, 2012. The invoice cost was $21,000. 3. Goods shipped from Kwok to a customer f.o.b. destination on December 27, 2011, were received by the customer on January 3, 2012. The sales price was $40,000 and the merchandise cost $24,000. 4. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2011, were received by the customer on December 30, 2011. The sales price was $23,000 and the merchandise cost $17,000. 5. Goods shipped from Kwok to a customer f.o.b. shipping point on December 28, 2011, were received by the customer on January 4, 2012. The sales price was $29,000 and the merchandise cost $15,000. Determine the correct inventory amount to be reported in Kwok's 2011 balance sheet