The inventory on hand of Hayes Company at the end of 2020 determined by physical count is $105,400. The following items were not included in this inventory amount.

a. Purchased goods in transit with the terms FOB shipping point, invoice $4100 plus freight $240.

b.Goods on out on consignment to Marlman Company, retail sales price $4200.

c. Goods sold to Grina Inc. with terms FOB destination invoiced for $1900. Freight to deliver the goods was $150 and the goods were still in transit at December 31 to the customer.

d.Goods held on consignment by Hayes Company from Martin Company at a retail sales price of $2700 which includes a sales commission of 20% of the selling price.

e. Purchased goods in transit, with the terms FOB Destination, invoice price $2100 which included freight charges of $180.

Instructions: Prepare a schedule that determines the balance of the ending inventory at December 31, 2020 that shows the balance Hayes would report on their balance sheet. Hayes uses a selling price of 140% on the cost of goods. Hint: You need to reduce the retail sales price to cost, as applicable. Show supporting computations as necessary.