In your audit of Steven Company. you find that a physical inventory on December 31, 2017, showed merchandise with a cost of $196,000 was on hand at that date. You also discover the following items were all excluded from the $196,000 1 2. 3. Merchandise of $21,000 which is held by Steven on consignment. The consignor is the Max Suzuki Company Merchandise costing $28,000 which was shipped by Steven fo.b.destination to a customer on December 31, 2017. The customer was expected to receive the merchandise on January 6, 2018 Merchandise costing $20,000 which was shipped by Steven fob shipping point to a customer on December 29, 2017. The customer was scheduled to receive the merchandise on January 2, 2018 Merchandise costing $55,000 shipped by a vendor fo.b.destination on December 30, 2017, and received by Steven on January 4, 2018 Merchandise costing $46,000 shipped by a vendor to.b. shipping point on December 31, 2017, and received by Steven on January 5, 2018 4. 5. Based on the above information, calculate the amount that should appear on Steven's balance sheet at December 31, 2017, for inventory. $ Inventory as on December 31, 2017