On December 31 of the current year, Plunkett Company reported an ending inventory balance of $215,000. The following additional information is also available: Plunkett sold and shipped goods costing $38,000 to Savannah Enterprises on December 28 with shipping terms of FOB shipping point. The goods were not included in the ending inventory amount of $215,000. Plunkett purchased goods costing $44,000 on December 29. The goods were shipped FOB destination and were received by Plunkett on January 2 of the following year. The shipment was a rush order that was supposed to arrive by December 31. These goods were included in the ending inventory balance of $215,000. Plunkett's ending inventory balance of $215,000 included $15,000 of goods being held on consignment from Carole Company. (Plunkett Company is the consignee.) Plunkett's ending inventory balance of $215,000 did not include goods costing $95,000 that were shipped to Plunkett on December 27 with shipping terms of FOB destination and were still in transit at year-end. Based on the above information, the amount that Plunkett should report in ending inventory on December 31 is:

For the 2nd point, the $44,000 of goods should not have been included in ending inventory, since the goods were shipped FOB destination. Subtract $44,000 from the ending inventory.

For the 3rd point, the ending inventory should not include goods held on consignment from another company. Subtract $15,000 from the ending inventory.

The information in the 4th point was handled correctly. No adjustment required.

Hence, $215,000 - $44,000 - $15,000 = $156,000