In your audit of William Brown Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $448,200 was on hand at that date. You also discover the following items were all excluded from the $448,200. 1. Merchandise of $60,140 which is held by Brown on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $36,890 which was shipped by Brown f.o.b. destination to a customer on December 31,2020 . The customer was expected to receive the merchandise on January 6, 2021. 3. Merchandise costing $46,730 which was shipped by Brown fo.b. shipping point to a customer on December 29,2020 . The customer was scheduled to receive the merchandise on January 2, 2021. 4. Merchandise costing $85,330 shipped by a vendor f.o.b. destination on December 30,2020 , and received by Brown on January 4, 2021. 5. Merchandise costing $55,340 shipped by a vendor fo.b. shipping point on December 31,2020 , and received by Brown on January 5, 2021. Based on the above information, calculate the amount that should appear on Brown's balance sheet at December 31,2020 , for inventory. Inventory as on December 31,2020$