In your audit of Charles Wilson Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $422,220 was on hand at that date. You also discover the following items were all excluded from the $422,220. 1. Merchandise of $56,330 which is held by Wilson on consignment. The consignor is the Max Suzuki Company. 2. 3. 4. 5. Merchandise costing $40,510 which was shipped by Wilson f.o.b. destination to a customer on December 31, 2020. The customer was expected to receive the merchandise on January 6, 2021. Merchandise costing $47,790 which was shipped by Wilson f.o.b. shipping point to a customer on December 29, 2020. The customer was scheduled to receive the merchandise on January 2, 2021. Merchandise costing $88,540 shipped by a vendor f.o.b. destination on December 30, 2020, and received by Wilson on January 4, 2021. Merchandise costing $50,150 shipped by a vendor f.o.b. shipping point on December 31, 2020, and received by Wilson on January 5, 2021. Based on the above information, calculate the amount that should appear on Wilson's balance sheet at December 31, 2020, for inventory. Inventory as on December 31, 2020 $