Umatilla Bank and Trust is considering giving Ivanhoe Company a loan. Before doing so, it decides that further discussions with Ivanhoe's accountant may be desirable, One area of particular concern is the Imventory account, which has a year-end balance of $261,900. Discussions with the accountant reveal the following. 1. Ivanhoe sthipped goods costing $49,760 to Tamarisk Company FOB shipping point on December 28. The goods are not expected to reach Tamarisk until January 12. The goods were not included in the physical inventory because they were not in the warehouse; 2. The physical count of the inventory did not include goods costine $89,410 that were shipped to Ivanhoe FOB destination on December 27 and were still in transit at year-end. 3. Ivanhoe received goods costing $27,140 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. 4. Ivanhoe shipped goods costing $54,330 to Ehler of Canada FOB destiration on December 30 . The goods were recelved in Canada on January 8 . They were not included in Ivanhoe's physical inventory. 5. Ivanhoe received goods costing \$41,100 on January 2 that were shipped FOB destination on Docember 29 . The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $261.900. Determine the correct imventory amount on December 31 . Correct inventory amount on December 31 5