Bailey Company completed its inventory count on December 31, 2020. It arrived at a total inventory value of $120,900, counting everything currently on hand in its warehouse. Additional information affect the inventory count and cost are as follows: 1. Goods costing $34,090 that are being held on consignment for another company were included in the inventory 2. Goods purchased for $23,500 and in transit at December 31, 2020 (terms FOB shipping point) were not included in inventory. 3. Inventory sold for $35,000 that cost $20,000 when purchased and was in transit at December 31, 2020 (term FOB destination) was not included in the count. What is the adjusted inventory cost of Bailey Company on December 31, 2020