The company counted its ending inventory on December 31. None of the following items were included when the total amount of the company's ending inventory was computed:

• $15,000 in goods located in the company's warehouse that are on consignment from another company.
• $20,000 in goods that were sold by the company and shipped on December 30 and were in transit on December 31; the goods were received by the customer on January 2. Terms were FOB destination.
• $30,000 in goods that were purchased by the company and shipped on December 30 and were in transit on December 31; the goods were received by the company on January 2. Terms were FOB shipping point.
• $40,000 in goods that were sold by the company and shipped on December 30 and were in transit on December 31; the goods were received by the customer on January 2. Terms were FOB shipping point.

The company's reported inventory (before any corrections) was $200,000. What is the correct amount of the company's inventory on December 31?