In your audit of William Company, you find that a physical inventory on December 31, 2017, showed merchandise with a cost of $219,000 was on hand at that date. You also discover the following items were all excluded from the $219,000. 1. Merchandise of $18,000 which is held by William on consignment. The consignor is the Max Suzuki Company. 2. Merchandise costing $28,000 which was shipped by William fo.b. destination to a customer on December 31,2017 . The customer was expected to receive the merchandise on January 6, 2018. 3. Merchandise costing $22,000 which was shipped by William 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 $58,000 shipped by a vendor f.o.b. destination on December 30,2017 , and received by William on January 4, 2018. 5. Merchandise costing $43,000 shipped by a vendor f.o.b. shipping point on December 31,2017 , and received by William on January 5, 2018. Based on the above information, calculate the amount that should appear on William's balance sheet at December 31, 2017, for inventory. Inventory as on December 31,2017$