Brief Exercise 8-8 Your answer is incorrect. Try again. Pronghorn Ltd. took a physical inventory count on December 31 and determined that goods costing $3,500 were on hand. This amount included $510 of goods held on consignment for Woods Corporation. Not included in the physical Ltd. for $320, f..b. destination. Both the Timmons purchase and the Myers sale were in transit at year end. What amount should Pronghorn report as its Decembe 31 inventory? count were $860 of goods purchased from Timmons Corporation, f.o.b. shipping point, and $190 of goods sold to Myers 2990 December 31 inventory