ABC Co. is having its inventory cut-off on December 31, 20x1. The following information is gathered for this purpose:

a) The inventory count sheet shows total inventory of $180,000.

b) the count includes inventory amounting to $30,000 received from XYZ, Inc. under a consignment arrangement.

c) the Freight cost of the inventory referred to in b) above is $1,000. ABC Co. paid for this cost and recorded it as a debit to a receivable account.

d) the inventory count does not include inventory costing $18,000 sent out to DEF Co. under consignment arrangement. Only half of this inventory was sold to third parties as of December 31, 20x1.

e) the freight cost of delivering the inventory referred to in d) above to DEF Co. is $2,000. ABC Co. recorded this cost as expense.

requirement: Compute for the correct balance of inventory as of December 31,20x1.