A firm uses backflush costing to assign product costs to inventory and values inventory using direct costing. All actual amounts are equal to budgeted amounts.

Total DM	$100,000
Total DL	$40,000
Total Variable OH	$80,000
Total Fixed OH	$500,000
Total units completed and in process	40,000
Units in FG	160
Units in process	200

Finished goods has $1,000 beginning balance. After backflushing costs, what is the balance of the finished goods inventory account?

Group of answer choices

$880

$1,560

$1,880

$560