Blossom Company took a physical inventory on December 31 and determined that goods costing $250,000 were on hand. Not included in the physical count were $24,800 of goods purchased from Pelzer Corporation, FOB shipping point, and $22,600 of goods sold to Alvarez Company for $31,200, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end.
What amount should Blossom report as its December 31 inventory?

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u. s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.