Wahoo Company took a physical inventory on December 31 and determined that goods costing $180,000 were on hand. Not included in the physical count were $18,000 of goods purchased from Corner Corporation, FOB destination, and $27,000 of goods sold to Mincer Company for $40,000, FOB destination. Both the Corner purchase and the Mincer sale were in transit at yearend. What amount should Wahoo report as its December 31 inventory?