View Policies Show Attempt History Current Attempt in Progress * Your answer is incorrect. A physical count of Mecklenburg Company's inventory at year-end determined that inventory on hand had a value of $ 1,605,000. Upon further investigation, it was determined that this amount included the following: 1. An inventory purchase of $ 52,000 made by Mecklenburg shipped from Bagley Company on December 28 with terms FOB destination, but not due to be received until January 3. 2. Goods shipped to a customer with a cost of $ 74,000 with terms FOB destination on December 29, but not expected to reach their destination until January 3. 3. Goods shipped to a customer with a cost of $ 55,000 with terms FOB shipping point on December 30, but not expected to reach their destination until January 5. 4. Goods held on consignment from Florence Company with a cost $ 16,000. Compute the amount that should be reported for inventory on Mecklenburg Company's balance sheet at December 31, 2022. Balance sheet $ 942,000