Current Attempt in Progress

Your answer is incorrect.

Pharoah Company took a physical inventory on December $31$ and determined that goods costing $\backslash$$$225,000$ were on hand. Not included in the physical count were $\backslash (\backslash$$ $20,800\backslash )$ of goods purchased from Pelzer Corporation, FOB shipping point, and $\backslash$$$21,200$ of goods sold to Alvarez Company for $\backslash$$$28,400,$ FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year$-$end.

What amount should Pharoah report as its December $31$ inventory?