In your audit of Steve Company, you find that a physical inventory on December 31, 2017, showed merchandise with a cost of $439,750 was on hand at that date. You also discover the following items were all excluded from the $439,750.

1.		Merchandise of $63,260 which is held by Steve on consignment. The consignor is the Max Suzuki Company.
2.		Merchandise costing $34,870 which was shipped by Steve f.o.b. destination to a customer on December 31, 2017. The customer was expected to receive the merchandise on January 6, 2018.
3.		Merchandise costing $44,590 which was shipped by Steve f.o.b. shipping point to a customer on December 29, 2017. The customer was scheduled to receive the merchandise on January 2, 2018.
4.		Merchandise costing $76,380 shipped by a vendor f.o.b. destination on December 30, 2017, and received by Steve on January 4, 2018.
5.		Merchandise costing $54,450 shipped by a vendor f.o.b. shipping point on December 31, 2017, and received by Steve on January 5, 2018.

Based on the above information, calculate the amount that should appear on Steves balance sheet at December 31, 2017, for inventory.