Q5: In your audit of Garcia Company, you find that a physical inventory on December 31, 2022, showed merchandise with a cost of $439,470 was on hand at that date. You also discover the following items were all excluded from the $439,470. 1. Merchandise of $57,370 which is held by Garcia on consignment. The consignor is the Bontemps Company. 2. Merchandise costing $38,090 which was shipped by Garcia f.o.b. destination to a customer on December 31, 2022. The customer was expected to receive the merchandise on January 6, 2023. 3. Merchandise costing $46,760 which was shipped by Garcia f.o.b. shipping point to a customer on December 29, 2022. The customer was scheduled to receive the merchandise on January 2, 2023. 4. Merchandise costing $85,260 shipped by a vendor f.o.b. destination on December 30, 2022, and received by Garcia on January 4, 2023. 5. Merchandise costing $50,750 shipped by a vendor f.o.b. shipping point on December 31, 2022, and received by Garcia on January 5, 2023. Based on the above information, calculate the amount that should appear on Garcia's statement of financial position at December 31, 2022, for inventory