Umatilla Bank and Trust is considering giving Teal Mountain Inc. a loan. Before doing so, it decides that further discussions with Teal Mountain's accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $295,060. Discussions with the accountant reveal the following 1. Teal Mountain shipped goods casting $53,870 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 $91,780 that were shipped to Teal Mountain FOB destination on December 27 and were still in transit at year-end. 3. Teal Mountain received goods costing $27,500 on January 2. The goods were shipped Foo shipping point on December 26 by Yanice Co. The goods were not included in the physical 4. Teal Mountain shipped goods conting $48,530 to Eller of Canada ros destination on December 30. The goods were received in Canada on January 8. They were not included in Teal 5. Teal Mountain received goods conting $44,000 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 induded in the ending Inventory of $295,060 count. Determine the correct inventory amount on December 31. The correct inventory amount on December 31