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Assume that a physical count of Adidas AG's inventory at year$-$end determined that inventory on hand had a value of $$1,600,000.$ Upon further investigation, it was determined that this amount included the following:

An inventory purchase of $$50,000$ made by Adidas shipped from Amazon on December $28$ with terms FOB destination, but not due to be received until January $3.$

Goods shipped to a customer with a cost of $$70,000$ with terms FOB destination on December $29,$ but not expected to reach their destination until January $3.$

Goods shipped to a customer with a cost of $$54,000$ with terms FOB shipping point on December $30,$ but not expected to reach their destination until January $5.$

Goods held on consignment from Lock Laces Company with a cost $$15,000.$

Compute the amount that should be reported for inventory on Adidas AG's balance sheet at December $31.$

Inventory $

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