Vaughn Company took a physical inventory on December 31 and determined that goods costing $192,600 were on hand. Not included in the physical count were $25,630 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $22,510 of goods sold to Alvarez Company for $29,900, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Vaughn report as its December 31 inventory?

December 31 inventory

$enter inventories at December 31 in dollars

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