Reputation Company reported the following information for Year 1.

	Cost	Retail
Beginning inventory	$40,000	$80,000
Purchases, net	300,000	590,000
Freight-in	8,000
Markups		60,000
Markup cancellations		20,000
Markdowns		25,000
Markdown cancellations		5,000
Net sales		400,000

Estimate the inventory balance on December 31, Year 1 using the conventional retail inventory method

$142,141

$146,261

$151,944

$157,315