In an annual audit of Monty Company Limited, you find that a physical inventory count on December 31, 2023, showed merchandise of $440,000. You also discover that the following items were excluded from the $440,000: 1. Merchandise of $61,800 is held by Monty on consignment from BonBon Corporation. 2. 3. 4. 6. 7. Merchandise costing $32,400 was shipped by Monty f.o.b. destination to XYZ Ltd. on December 31, 2023. This merchandise was accepted by XYZ on January 6, 2024. Merchandise costing $46,400 was shipped f.o.b. shipping point to ABC Company on December 29, 2023. This merchandise was received by ABC on January 10, 2024. Merchandise costing $73,900 was shipped f.o.b. destination from Wholesaler Inc. to Monty on December 30, 2023. Monty received the items on January 3, 2024. Merchandise costing $50,700 was shipped by Distributor Ltd. f.o.b. shipping point on December 30, 2023, and received at Monty's office on January 2, 2024. Monty had excess inventory and incurred an additional $1,490 in storage costs due to delayed shipment in transaction (3) above. Monty incurred $2,120 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 Monty's December 31, 2023 SFP. Amount of inventory $