9 Company reported to following information on its two inventory items on December 31, Year 1.

Item	Cost	Net Realizable value	Replacement cost	Net Realizable value - normal profit
A	$58,000	$60,000	$55,000	$51,000
B	61,000	62,000	65,000	58,000

Company uses the first-in, first-out (FIFO) inventory cost flow assumption and applies inventory valuation rules to inventory as a whole.

Determine the inventory balance Company should report on the balance sheet at December 31, Year 1.

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