Bellingham Inc $£ 1,650,000$ Of Goods Were on Hand $£ 25,000$ Of Goods Were in Transit

Multiple Choice

Bellingham Inc. took a physical inventory at the end of the year and calculated that $£ 1,650,000$ of goods were on hand. Bellingham determined that $£ 25,000$ of goods were in transit. The goods were shipped f.o.b. shipping point and were received two days after the inventory count. The company also had $£ 275,000$ of goods out on consignment. What amount should Bellingham report for inventory on its statement of financial position?

A) $£ 1,350,000$ .
B) $£ 1,650,000$ .
C) $£ 1,925,000$ .
D) $£ 1,950,000$ .