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The Constance Corporations inventory on December 31,2024, was $126,000(at cost) based on a physical count...

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Accounting

The Constance Corporations inventory on December 31,2024, was $126,000(at cost) based on a physical count of inventory on hand, before any necessary adjustment for the following:
Inventory costing $16,000, shipped f.o.b. shipping point from a vendor on December 27,2024, was received by Constance on January 5,2025.
Inventory costing $46,000 was shipped to a customer f.o.b. shipping point on December 28,2024, arrived at the customers location on January 6,2025.
Inventory costing $22,000 was being held on hand for Jess Company on consignment.
Estimated sales returns are 20% of annual sales. Sales revenue was $552,000 with a gross profit ratio of 30%.
What amount should Constance Corporation report as inventory in its December 31,2024, balance sheet?

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