The inventory account of Cullumber Company at December 31, 2020, included the following items:

		Inventory Amount
Merchandise out on consignment at sales price (including markup of 40% on selling price)		$61000
Goods purchased, in transit (shipped f.o.b. shipping point)		49000
Goods held on consignment by Cullumber		63000
Goods out on approval (sales price $31400, cost $26600)		31400

Based on the above information, the inventory account at December 31, 2020, should be reduced by

$141200.

$104400.

$92200.

$92400.