Exercise 8-2 that a physical inventory on December 31, 2017, showed merchandise with a cost of $480,770 was on hand that date. You also discover the following yu were all excludad from the t480 770 to 1. Merchandise of $61,520 which is held by Steve on consignment. The consignor 2. Merchandise costing $36,000 which was shipped by Steve f.o.b. destination 3. Merchandise costing $49,580 which was shipped by Steve f.o.b. shipping point 4. Merchandise costing $90,200 shipped by a vendor f.o.b. destination on December 30, 2017, and received by Steve on January 4, 2018. . Merchandise costing $49,250 shipped by a vendor f.o.b. shipping point on December 31, 2017, and received by Steve on January 5, 2018. the Max Suzuki Company. o a customer on December 31, 2017. The customer was expected to receive the merchandise on January 6, 2018. a customer on December 29, 2017. The customer was scheduled to receive the merchandise on January 2, 2018. Based on the above information, calculate the amount that should appear on Steve's balance sheet at December 31, 2017, for inventory Inventory as on December 31, 2017