Clark Company had the following transactions with affiliated parties during 20X2:

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Sales of $60,000 to Dean Inc., with $20,000 gross profit. Dean had $15,000 of this inventory on hand at year-end. Clark owns a 15 percent interest in Dean and does not exert significant influence.

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Purchases of raw materials totaling $240,000 from Kent Corporation, a wholly owned subsidiary. Kent’s gross profit on the sales was $48,000. Clark had $60,000 of this inventory remaining on December 31, 20X2.

Before consolidation entries, Clark had consolidated current assets of $320,000. What amount should Clark report in its December 31, 20X2, consolidated balance sheet for current assets?