Premier Bank and Trust is giving Alou Company a loan. Before doing so, management decides that added discussions with Alou's accountant may be desirable. One area of particular concern is inventory account, which has a year-end balance of $297,000. Discussions with accountant reveal the subsequent.

1. Alou sold goods costing $ 38,000 to Comerico Company, FOB shipping point, on 28^th December. The goods are not expected to arrive at Comerico until 12^th January. The goods were not included in physical inventory because they were not in warehouse.
2. The physical count of inventory did not include goods costing $95,000 that were shipped to Alou FOB destination on 27^th December and were still in transit at year-end.
3. Alou received goods costing $19,000 on January 2. The goods were shipped FOB shipping point on 26^th December by Grant Co. The goods were not included in physical count.
4. Alou sold goods costing $35,000 to Emerick Co., FOB destination, on 30^th December. The goods were received at Emerick on January 8. They were not included in Alou's physical inventory.
5. Alou received goods costing $44,000 on 2^nd January that were shipped FOB shipping point on 29^th December. The shipment was a rush order that was supposed to arrive 31^st December. This purchase was included in the ending inventory of $297,000.

Evaluate the correct inventory amount on 31^st December.