I disagree that this is how it should be handled. A whistle blown inadvertently is normally by itself which is why you have to go to POI. In this case it was blown inadvertently but you have another event that is blown at the same time.

The players didn't know that the whistle blown was for a foul or for a travel. They assumed it was for a foul. The inadvertent whistle did not effect the players on this play. Why penalize the offense on this play when we can ignore the inadvertent whistle and penalize what actually took place.

Once again, IMO perhaps they determined the whistle for the alleged travel violation occured just prior to the whistle for the foul...

In that case had the shot attempt not yet been released then POI is to give the team the ball back. If it had indeed been relaease, you might've seen a FT attempt.

If the whistles were blown at approximately the same time, the foul had to have happened before the IW.
Even if the phantom travel happened first, the ball didn't become dead for this until the whistle blew; which was after the foul. IMO, you'd have to go with the foul here rather than the IW.

Mark Padgett Has Left the Building ...
 

Good one. I actually thought that this creative, humorous, comment was from Mark Padgett, until I looked at the username. We may have a new "King of Comedy" in the making.

Seems to me that this would be like an end of quarter scenario. The shooter is in the act of shooting, so what happens next depends on when the horn (whistle in this case) goes off.

If the shot has been released before the horn (whistle) goes off, the ball is not dead. If the basket is made, count it and shoot 1. Otherwise shoot 2.

If the shot has not been released, the horn (whistle) kills the ball. But the shooter was fouled in the act of shooting and is entitled to two free throws.