Umatilla Bank and Trust is considering giving Sage Hill Inc. a loan. Before doing so, it decides that further discussions with Sage Hill Inc.s accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $253,760. Discussions with the accountant reveal the following.

Umatilla Bank and Trust is considering giving Sage Hill Inc. a loan. Before doing so, it decides that further discussions with Sage Hil Inc.'s accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $253,760. Discussions with the accountant reveal the following 1. Sage Hill Inc. sold goods costing $55,290 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods 2. The physical count of the inventory did not include goods costing $96,030 that were shipped to Sage Hill Inc. FOB destination on December 27 and were still in transit at year- 3. Sage Hill Inc. received goods costing $26,180 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the 4. Sage Hill Inc. sold goods costing $47,850 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Sage 5. Sage Hill Inc. received goods costing $38,560 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive were not included in the physical inventory because they were not in the warehouse. end. physical count. Hill Inc. physical inventory. December 31. This purchase was included in the ending inventory of $253,760. Determine the correct inventory amount on December 31 The correct inventory amount on December 31