Samson, Inc. had the following balances and transactions during 2017: 
What is the amount of the company's Merchandise Inventory, as disclosed in the December 31, 2017 balance sheet as per the periodic FIFO inventory costing method?
Definitions:
Incremental Sales
The additional sales generated by a particular business activity or decision.
Operating Expenses
Expenses that are incurred during the normal operation of a business, excluding the cost of goods sold.
Capital Budgeting
The approach of orchestrating and administering a business's enduring investments towards major initiatives or assets.
Straight-Line Depreciation
A scheme for apportioning the cost of a concrete asset over its lifespan in steady yearly payments.
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