Sunland Company took a physical inventory on December 31 and determined that goods $198,200 were on hand. Not included in the physical count were $26,200 of goods purchased from Pelzer Corporation, f. o.b. shipping point, and $23,410 of goods sold to Alvarez Company for $28,450, f. o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What costing amount should Sunland report as its December 31 inventory? December 31 inventory $