A business operated at $100\%$ of capacity during its first month and incurred the following costs:

Production costs $(20,500$ units$)$:

Line Item Description Amount Amount

Direct materials $$175,400$

Direct labor $224,300$

Variable factory overhead $242,700$

Fixed factory overhead $101,600$

Total production costs $$744,000$

Operating expenses:

Variable operating expenses $$126,400$

Fixed operating expenses $45,900$

Total operating expenses $172,300$

If $1,700$ units remain unsold at the end of the month, the amount of inventory that would be reported on the absorption costing balance sheet is