6 Company reported the following information for December. Date Units Cost December 1 Inventory 2,000 $20,000 December 3 Purchases 8,000 83,200 December 7 Sales 7,000 December 20 Purchases 6,000 66,000 December 22 Sales 8,000 December 31 Purchases 3,000 36,000 Company uses a perpetual inventory system and the last-in, first-out (LIFO) cost flow assumption.

Determine the inventory balance at December 31.

Note: Give your answer using dollar signs and commas but no decimal points (cents). Example: $12,345