Costs which are inventoriable include all of the following except costs that are directly connected with the bringing of goods to the place of business of the buyer. selling costs of a sales department. costs that are directly connected with the converting of goods to a salable condition. buying costs of a purchasing department.

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.