Hemming Company reported ending inventory in the amount of $$412,500.$ A search of Hemming's records indicates the following additional information:

The ending inventory balance of $$412,500$ included $$73,300$ of consigned inventory for which Hemming was the consignor.

The ending inventory balance of $$412,500$ incorrectly included $$24,600$ of office supplies that will be used by Hemming's employees during the coming year.

Based on this information, calculate the correct balance of ending inventory.

Multiple Choice

$$412,500$

$$338,900$

$$314,300$