On December 31, Cooper Company had an ending inventory of $107,500 based primarily on a physical count at its warehouse. In computing the final balance ofInventory, the following information was available:(a)Inventory items with a cost of $2,950 were included in ending inventory. These goods were onconsignmentto Jackson Company. They had not yet been sold.

(b)Inventory items with a cost of $3,740 were included in ending inventory. These goods were in transit from Cooper Company to Miller Company and were soldFOB shipping point.

(c)Inventory items with a cost of $3,190 were excluded from ending inventory. These goods were in transit from Wood Company to Cooper Company and were purchasedFOB destination.

Required:Using the information given above, compute the correct final balance of Inventory.