Bedrock Company reported a December $31$ ending inventory balance of $$416,500.$ The following additional information is also available:

The ending inventory balance of $$416,500$ included $$72,900$ of consigned inventory for which Bedrock was the consignor.

The ending inventory balance of $$416,500$ incorrectly included $$23,800$ of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year.

Based on this information, the correct balance for ending inventory on December $31$ is: