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University Bookstore took a physical inventory on December 31. You have pointed out a number of...

University Bookstore took a physical inventory on December 31. You have pointed out a number of possible problems with the count, as indicated below.

Ending inventory per physical count $ 170,000

Reconciling items at year-end.

Purchases in transit at December 31
FOB shipping point $ 66,130
FOB destination $ 43,880
Sales shipped and in transit at December 31
FOB shipping point $ 53,620
FOB destination $ 71,060
Consigned goods at December 31
Company is the consignor $ 48,620
Card Company is the consignee $ 88,130

What is the correct ending inventory balance on the company's balance sheet?

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