Bag of Shrinking

This bag shrinks items placed inside, minimizing the weight and size of each item placed inside.  The bag itself is roughly 2 feet in diameter at the mouth and 4 feet deep. The bag can hold up to 250 pounds, not exceeding a volume of 64 cubic feet. The bag normally weighs 15 pounds, and the contents will slightly increase the weight with each additional item. Retrieving an item from the bag requires an action.

If an item placed in the bag fits inside the mouth, the item is shrunk down to 1/8th of it's normal size, dimensions and weight included.

If the bag is overloaded, pierced, or torn, it ruptures and is destroyed, and its contents are scattered on the ground with their size restored. If the bag is turned inside out, its contents spill forth, unharmed, but the bag must be put right before it can be used again.

This magic bag is a clear knock-off of the Bag of Holding.

Credits to my DM for the item concept.

Notes: Utility, Container