Metlock, Inc. took a physical inventory on December 31 and determined that goods costing $230,000 were on hand. Not included in the physical count were $32,000 of goods purchased from Whispering Winds Corp., FOB, shipping point, and $24,500 of goods sold to Coronado Industries for $32,000, FOB destination. Both the Whispering Winds purchase and the Coronado sale were in transit at year-end. What amount should Metlock report as its December 31 inventory