In an annual audit of Concord Company Limited, you find that a physical inventory count on December 31, 2023, showed merchandise of $449,000. You also discover that the following items were excluded from the $449,000 : 1. Merchandise of $61,100 is held by Concord on consignment from BonBon Corporation. 2. Merchandise costing $32,400 was shipped by Concord f.o.b. destination to XYZ Ltd. on December 31,2023 . This merchandise was accepted by XYZ on January 6, 2024. 3. Merchandise costing $45,300 was shipped f.o.b. shipping point to ABC Company on December 29,2023 . This merchandise was received by ABC on January 10, 2024. 4. Merchandise costing $73,400 was shipped f.o.b. destination from Wholesaler Inc. to Concord on December 30, 2023 . Concord received the items on January 3, 2024. 5. Merchandise costing $51,100 was shipped by Distributor Ltd. f.o.b. shipping point on December 30,2023 , and received at Concord's office on January 2, 2024. 6. Concord had excess inventory and incurred an additional \$1,540 in storage costs due to delayed shipment in transaction (3) above. 7. Concord incurred $2,080 for interest expense on inventory it purchased through delayed payment plans in fiscal 2023. 5. Merchandise costing $51,100 was shipped by Distributor Ltd. f.o.b. shipping point on December 30,2023 , and received at Concord's office on January 2, 2024. 6. Concord had excess inventory and incurred an additional $1,540 in storage costs due to delayed shipment in transaction (3) above. 7. Concord incurred $2,080 for interest expense on inventory it purchased through delayed payment plans in fiscal 2023. (a) Based on the information provided above, calculate the amount of inventory that should appear on Concord's December 31,2023 SFP. Amount of inventory $