D

In your audit of Nelson Company, you find that a physical inventory on December 31, 2012, showed merchandise with a cost of $441,000 was on hand at that date. You also discover the following items were all excluded from the $441,000. Merchandise of $61,000 which is held by Nelson on consignment. The consignor is the Lanciano Company. Merchandise costing $33,000 which was shipped by Nelson f.o.b. destination to a customer on December 31, 2012. The customer was expected to receive the merchandise on January 6, 2013. Merchandise costing $46,000 which was shipped by Nelson f.o.b. shipping point to a customer on December 29, 2012. The customer was scheduled to receive the merchandise on January 2, 2013. Merchandise costing $73,000 shipped by a vendor f.o.b. destination on December 30, 2012, and received by Nelson on January 4, 2013. Merchandise costing $51,000 shipped by a vendor f.o.b. shipping point on December 31, 2012, and received b Nelson on January 5, 2013. Required: Based on the above information, calculate the amount that should appear on Nelsons balance sheet at December 31, 2012, for inventory