The Brighton Corporation included the following information in their inventory account at December 31, 2020: Goods held on consignment by Brighton $7,000 Merchandise out on consignment, at sales price, including 30% mark-up on selling price 12,000 Goods purchased, in transit, shipped f.o.b. shipping point 9,000 How much should Brighton's inventory be reduced at December 31, 2020? $28,000 $10,600 $16,000 $12,600