Valuation of Inventory

Reddall Company has a fiscal year that ends on December $31.$ The inventory on hand at the end of the year is valued at a cost of $$94,000.$ The following items were not included in this inventory:

$1.$ Purchased goods in transit, under terms FOB shipping point, invoice price $$4,200,$ freight costs $$250.$

$2.$ Goods out on consignment to Marlman Company, sales price $$5,600,$ cost of goods $$3,000,$ shipping costs $$300.$

$3.$ Goods sold to Grina Co$.$ under terms FOB destination, invoiced for $$1,900($which included $$178$ freight charges to deliver the goods$)$ and have a cost of $$1,200.$ Goods are in transit.

$4.$ Goods held on consignment by Reddall at a sales price of $$2,700$ which included sales commission of $20\%$ of sales price.

$5.$ Purchased goods in transit, shipped FOB destination, invoice price $$2,100$ which included freight charges of $$190.$

Required:

Determine the cost of the ending inventory that Reddall should report on its December $31$ balance sheet.