$$309,100.$ Discussions with the accountant reveal the following:

The physical count of the inventory did not include goods that cost $$104,500$ that were shipped to Oriole, FOB shipping point, on December $27$ and were still in transit at year end.

were not in the warehouse.

On December $31,$ Grouper Company had $$33,550$ of goods held on consignment for Oriole. The goods were not included in Oriole's ending inventory balance.

Oriole received goods that cost $$30,800$ on January $2.$ The goods were shipped FOB shipping point on December $26$ by Sheffield 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:

inventory

inventory

inventory

inventory