In an annual audit of Novak Company Limited, you find that a physical inventory count on December $31,2023,$ showed merchandise of $$446,000.$ You also discover that the following items were excluded from the $$446,000$:$1.$ Merchandise of $$61,900$ is held by Novak on consignment from BonBon Corporation$\mathrm{.}2.$ Merchandise costing $$32,200$ was shipped by Novak f$.$o$.$b$.$ destination to XYZ Ltd$.$ on December $31,2023.$ This merchandise was accepted by XYZ on January $6,2024\mathrm{.}3.$ Merchandise costing $$45,900$ was shippedf.o$.$b$.$ shipping point to ABC Company on December $29,2023.$ This merchandise was received by ABC on January $10,2024\mathrm{.}4.$ Merchandise costing $$72,200$ was shipped f$.$o$.$b$.$ destination from Wholesaler Inc. to Novak on December $30,2023.$ Novak received the items on January $3,2024\mathrm{.}5.$ Merchandise costing $$50,600$ was shipped by Distributor Ltd$.$ f$.$o$.$b$.$ shipping point on December $30,2023,$ and received at Novak's office on January $2,2024$

Assignment $9$

Question $1$ of $5$

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Your answer is incorrect.

In an annual audit of Novak Company Limited, you find that a physical inventory count on December $31,2023,$ showed merchandise of $$446,000.$ You also discover that the following items were excluded from the $$446,000$ :

Merchandise of $$61,900$ is held by Novak on consignment from BonBon Corporation.

Merchandise costing $$32,200$ was shipped by Novak f$.$o$.$b$.$ destination to XYZ Ltd$.$ on December $31,2023.$ This merchandise was accepted by XYZ on January $6,2024.$

Merchandise costing $$45,900$ 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 $$72,200$ was shipped f$.$o$.$b$.$ destination from Wholesaler Inc. to Novak on December $30,2023.$ Novak received the items on January $3,2024.$

Merchandise costing $$50,600$ was shipped by Distributor Ltd$.$ f$.$o$.$b$.$ shipping point on December $30,2023,$ and received at Novak's office on January $2,2024.$

Novak had excess inventory and incurred an additional $$1,420$ in storage costs due to delayed shipment in transaction $(3)$

Assignment $9$

Question $1$ of $5$

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$6.$ Novak had excess inventory and incurred an additional $$1,420$ in storage costs due to delayed shipment in transaction $(3)$ above.

$7.$ Novak incurred $$2,130$ 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 Novak's December $31,2023$ SFP$.$

Amount of inventory $

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