CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 6-1 Tri-State Bank and Trust is considering giving Sun and Company loan. Before doing so, management deddes that further discussions with Sunland's account may be desirable. One area of particular concern is the inventory account, which has a year-end balance of $344,000. Discussions with the accountant reveal the following 1. Sunland sold goods costing $38,800 to Sord Company FOB shipping point, on December 28. The goods are not expected to arrive at Sord until January 12. The goods were not included in the physical inventory because they were not in the warehouse 2. The physical count of the inventory did not include goods costing $95,600 that were shipped to Sunland FOB destination on December 27 and were still in transit a year-end. 3. Sunland received goods costing $30,300 on January 2. The goods were shipped FB shipping point on December 26 by Solta C. The goods were not included in the physical count 4. Sunland sold goods costing $41,500 to Natal Co., FOB destination, on December 30. The goods were received at Natalion January. They were not included in Sunland's physical inventory 5. Surland received goods costing 144,200 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $344,000 Determine the correctiventory amount on December 31 Correct inventory