Umatilla Bank and Trust is considering giving Oriole Company a loan. Before doing so$,$ it decides that further discussions with Oriole's accountant may be desirable. One area of particular concern is the Inventory account, which has a year$-$end balance of $$284,470.$ Discussions with the accountant reveal the following.

Oriole shipped goods costing $$50,150$ to Sheffield Company FOB shipping point on December $28.$ The goods are not expected to reach Sheffield until January $12.$ The goods were not included in the physical inventory because they were not in the warehouse.

The physical count of the inventory did not include goods costing $$88,600$ that were shipped to Oriole FOB destination on December $27$ and were still in transit at year$-$end.

Oriole received goods costing $$24,100$ on January $2.$ The goods were shipped FOB shipping point on December $26$ by Yanice Co$.$ The goods were not included in the physical count.

Oriole shipped goods costing $$49,800$ to Ehler of Canada FOB destination on December $30.$ The goods were received in Canada on January $8.$ They were not included in Oriole's physical inventory.

Oriole received goods costing $$46,130$ on January $2$ that were shipped FOB destination on December $29.$ The shipment was a rush order that was supposed to arrive December $31.$ This purchase was included in the ending inventory of $$284,470.$

Determine the correct inventory amount on December $31.$

Correct inventory amount on December $31$ $