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First Bank is considering giving Ivanhoe Company a loan. First, however, it decides that it would be a good idea to have further discussions with Ivanhoe's accountant. One area of particular concern is the inventory account, which has a December 31 balance of $241,660. Discussions with the accountant reveal the following: 1. The physical count of the inventory did not include goods that cost $81,700 that were shipped to Ivanhoe, FOB shipping point, on December 27 and were still in transit at year end. 2. Ivanhoe sold goods that cost $30,100 to Pharoah Company, FOB destination, on December 28 . The goods are not expected to arrive at their destination in India until January 12 . The goods were not included in the physical inventory because they were not in the warehouse. 3. On December 31, Flint Company had $26,230 of goods held on consignment for Ivanhoe. The goods were not included in Ivanhoe's ending inventory balance. 4. Ivanhoe received goods that cost $24,080 on January 2. The goods were shipped FOB shipping point on December 26 by Bridgeport Co. The goods were not included in the physical count. Determine the correct inventory amount at December 31 . The correct cost of inventory is: Ending inventory-physical count $ Adjustments: 1. inventory 2. inventory 3. inventory 4. inventory $