The Kwok Company's inventory balance on December 31, 2021, was $215,000 (based on a 12/31/2021 physical count) before considering the following transactions: 1. Goods shipped to Kwok f.o.b. destination on December 20, 2021, were received on January 4, 2022. The invoice cost was $40,000. 2. Goods shipped to Kwok f.o.b. shipping point on December 28, 2021, were received on January 5, 2022. The invoice cost was $27,000. 3. Goods shipped from Kwok to a customer f.o.b. destination on December 27, 2021, were received by the customer on January 3, 2022. The sales price was $50,000 and the merchandise cost $32,000. 4. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2021, were received by the customer on December 30, 2021. The sales price was $30,000 and the merchandise cost $23,000. 5. Goods shipped from Kwok to a customer f.o.b. shipping point on December 28, 2021, were received by the customer on January 4, 2022. The sales price was $35,000 and the merchandise cost $22,000. Required: Determine the correct inventory amount to be reported in Kwok's 2021 balance sheet. Correct inventory balance