Umatilla Bank and Trust is considering givingConcord Corporationa loan. Before doing so, it decides that further discussions withConcord's accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $295,300. Discussions with the accountant reveal the following.

1.Concordshipped goods costing $43,500to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock 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 costing $98,100that were shipped toConcordFOB destination on December 27 and were still in transit at year-end.3.Concordreceived goods costing $31,800on 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.Concordshipped goods costing $46,900to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included inConcord's physical inventory.5.Concordreceived goods costing $41,700on 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 $295,300.

Determine the correct inventory amount on December 31.

Correct inventory$

enter the correct inventory in dollars