Umatilla Bank and Trust is considering giving Blossom Company a loan. Before doing so, it decides that further discussions with Blossom's accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $273,850. Discussions with the accountant reveal the following. 1. 2. 3. 4. 5. Blossom shipped goods costing $53,860 to Nash Company FOB shipping point on December 28. The goods are not expected to reach Nash until January 12. The goods were not included in the physical inventory because they were not in the warehouse. The physical count of the inventory did not include goods costing $88,840 that were shipped to Blossom FOB destination on December 27 and were still in transit at year-end. Blossom received goods costing $26,690 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count. Blossom shipped goods costing $52,540 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Blossom's physical inventory. Blossom received goods costing $41,780 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $273,850. Determine the correct inventory amount on December 31. Correct inventory amount on December 31 $ SUPPO

Umatila Bank and Trustis considering giving Blossom Company a loan Before doing so, it decides that further discussions with Blobsom s accountant muy be desirable, One area of particular concern is the ferventory account, which has a year-end balance of \$273,850. Dikcusions with the accosintant reveal the following: 1. Bloxsom shipped goods costing $53.860 to Nash Company FOB shipping point on December 28 . The goods are not expested to reach Nash until January 12 . The goods were not included in the physical inventory because they were not in the worehowse: 2 The physical count of the inmentory did not include goods costing 588.840 that were shipped to Blossomi FOB destination on Deciember 27 and were still in transit at year-end 3 Bhssomreceived poods costing $26,690 on fanuary 2 The goods were shipped FOB shippins point on Decemter 26 ty Yarice Co. The goods were not included in the ptiysical count: 4. Blossom shipped eoods costine $52,540 to Ehier of Cansa FOB destination on December 30 . The goods were recelved in Carcada on January 8 . They were not included in Blossomis plysical inventory. 5 Blossom recelved goods costing $41,780 on January 2 that were shipged FOB destination on December 29 . The shipnent was a rush order that was wpposed to artive Derember 31 . This purclase was included in the ending inventory of $273.,350. Deterinin the correct inventoryamount on December 31