Question 4 --/15 View Policies Current Attempt in Progress A physical count of Concord Company's inventory at year-end determined that inventory on hand had a value of $1,627,000. Upon further investigation, it was determined that this amount included the following: 1. An inventory purchase of $51,200 made by Concord shipped from Oriole Company on December 28 with terms FOB destination, but not due to be received until January 3. 2. Goods shipped to a customer with a cost of $70.900 with terms FOB destination on December 29, but not expected to reach their destination until January 3. 3. Goods shipped to a customer with a cost of $54,200 with terms FOB shipping point on December 30, but not expected to reach their destination until January 5. 4. Goods held on consignment from Florence Company with a cost $15,800. Compute the amount that should be reported for inventory on Concord Company's balance sheet at December 31, 2022. Balance sheets Attempts: 0 of 1 used Submit Answer Save for Later Type here to search