Problem
Dinoland Manufacturing shipped consignment inventory of $285,000 to Storing Company on December 1, 2024. Storing agrees to sell the inventory for a 10% sales commission, while Dinoland maintains title and control over pricing. By the end of the year, $77,000 of the inventory has been sold by Storing to customers for $87,000. How much of this inventory, if any, would Dinoland include in ending inventory in its December 31, 2024, balance sheet?