In an annual audit of Grouper Company Limited, you find that a physical inventory count on December 31, 2020, showed merchandise of $450,000. You also discover that the following items were excluded from the $450,000.
1. Merchandise of $60,100 is held by Grouper on consignment from BonBon Corporation.
2. Merchandise costing $32,100 was shipped by Grouper f.o.b. destination to XYZ Ltd. on December 31, 2020. This merchandise was accepted by XYZ on January 6, 2021.
3. Merchandise costing $46,700 was shipped f.o.b. shipping point to ABC Company on December 29, 2020. This merchandise was received by ABC on January 10, 2021.
4. Merchandise costing $72,800 was shipped f.o.b. destination from Wholesaler Inc. to Grouper on December 30, 2020. Grouper received the items on January 3, 2021.
5. Merchandise costing $51,600 was shipped by Distributor Ltd. f.o.b. shipping point on December 30, 2020, and received at Grouper’s office on January 2, 2021.
6. Grouper had excess inventory and incurred an additional $1,570 in storage costs due to delayed shipment in transaction (3) above.
7. Grouper incurred $2,050 for interest expense on inventory it purchased through delayed payment plans in fiscal 2020.

(a)

Based on the information provided above, calculate the amount of inventory that should appear on Grouper’s December 31, 2020 SFP.
Inventory per physical count $
Item 1
Item 2
Item 3
Item 4
Item 5
Item 6
Item 7
Inventory to be reported on SFP $