The Kwok Company's inventory balance on December 31, 2018, was $175,000 (based on a 12/3118 physical count) before considering the following transactions: 1. Goods shipped to Kwok fo.b. destination on December 20, 2018, were received on January 4, 2019. The invoice cost was $32,000. 2. Goods shipped to Kwok fo.b. shipping point on December 28, 2018, were received on January 5, 2019. The invoice cost was $19,000. 3. Goods shipped from Kwok to a customer fo.b. destination on December 27, 2018, were received by the customer on January 3, 2019. The sales price was $42.000 and the merchandise cost $24,000. 4. Goods shipped from Kwok to a customer fo.b. destination on December 26, 2018, were received by the customer on December 30, 2018. The sales price was $22,000 and the merchandise cost $15,000. 5. Goods shipped from Kwok to a customer fo.b. shipping point on December 28, 2018, were received by the customer on January 4, 2019. The sales price was $27,000 and the merchandise cost $14,000. Required: Determine the correct inventory amount to be reported in Kwok's 2018 balance sheet. Correct inventory balance