A physical count of Monty Company's inventory at year-end determined that inventory on hand had a value of $1,642,000. Upon further investigation, it was determined that this amount included the following: 1. An inventory purchase of $53,600 made by Monty shipped from Blossom Company on December 28 with terms FOB destination, but not due to be received until January 3. 2. Goods shipped to a customer with a cost of $74,400 with terms FOB destination on December 29, but not expected to reach their destination until January 3. 3. Goods shipped to a customer with a cost of $55,500 with terms FOB shipping point on December 30, but not expected to reach their destination until January 5. 4. Goods held on consignment from Florence Company with a cost $17,400. Compute the amount that should be reported for inventory on Monty Company's balance sheet at December 31, 2022. Balance sheet