value 1.33 points The Kwok Company's inventory balance on December 31, 2016, was $205,000 (based on a 12/31/16 physical count) before considering the following transactions 1. Goods shipped to Kwok f.o.b. destination on December 20, 2016, were received on January 4. 2017 The invoice cost was $38,000 2. Goods shipped to Kwok fo.b. shipping point on December 28, 2016, were received on January 5, 2017. The invoice cost was $25,000 3. Goods shipped from Kwok to a customer fo.b. destination on December 27, 2016, were received by the customer on January 3, 2017. The sales price was $48,000 and the merchandise cost $30,000 4. Goods shipped from Kwok to a customer fo.b. destination on December 26, 2016, were received by the customer on December 30, 2016. The sales price was $28,000 and the merchandise cost $21,000 5. Goods shipped from Kwok to a customer fo.b. shipping point on December 28, 2016, were received by the customer on January 4, 2017. The sales price was $33,000 and the merchandise cost $20,000 Required: Determine the correct inventory amount to be reported in Kwok's 2016 balance sheet