21-23 (Objective 21-40) Your client, Ridgewood Heating and Cooling, specializes in residential air conditioning and heating installations. The company maintains an inventory of air conditioning units, furnaces, and air handling ductwork. The client has provided the following selected financial statement information for the year ending December 31, 2019: 12/31/2019 12/31/2018 12/31/2017 Total sales $55,443,900 $52,700,440 $50,384,300 Cost of goods sold 47,771,880 46,810,900 44,670,400 Ending inventory 9,582,960 8,100,220 7,730,660 Following is a breakdown of the ending inventory account as of December 31, 2019: Inventory Description Quantity Ending Balance AC Unit-Model 635 1,240 Units $806,000 AC Unit-Model 770 1,733 Units 1,940,960 Furnace Model 223 1,992 Furnaces 2,589,600 Furnace Model 225 2,008 Furnaces 2,761,000