Borrowed $83,500 from a bank, signing a short-term note payable. Provided $106,200 in service to customers, with $100,000 on account and the rest received in cash. Purchased equipment for $189,000 in cash. Incurred and paid employee wages of $1,800. Received $890 on account from a customer. Incurred and paid $5,800 cash for travel costs during the year. Paid $7,400 cash on accounts payable. Incurred $28,200 in utility expenses during the year, of which $21,400 was paid in cash and the rest owed on account.

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.