Current Attempt in Progress

Umatilla Bank and Trust is considering giving Tamarisk, Inc. a loan. Before doing so$,$ it decides that further discussions with Tamarisk's

accountant may be desirable. One area of particular concern is the Inventory account, which has a year$-$end balance of $$328,200.$

Discussions with the accountant reveal the following.

Tamarisk shipped goods costing $$40,100$ to Hemlock Company FOB shipping point on December $28.$ The goods are not

expected to reach Hemlock until January $12.$ The goods were not included in the physical inventory because they were not in

the warehouse.

The physical count of the inventory did not include goods costing $$92,200$ that were shipped to Tamarisk FOB destination on

December $27$ and were still in transit at year$-$end.

Tamarisk received goods costing $$24,900$ on January $2.$ The goods were shipped FOB shipping point on December $26$ by

Yanice Co$.$ The goods were not included in the physical count.

Tamarisk shipped goods costing $$31,300$ to Ehler of Canada FOB destination on December $30.$ The goods were received in

Canada on January $8.$ They were not included in Tamarisk's physical inventory.

Tamarisk received goods costing $$44,300$ 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 $$328,200.$

Determine the correct inventory amount on December $31.$