ABCO Inc. manufactures portable chairs with various logos. During the first year of operations, the company had the following data:

Description	Costs/Units
Direct materials used	$16,000
Direct Labor	17,000
Factory rent	18,000
Equipment depreciation factory	12,000
Equipment depreciation office	3,750
Marketing expenses	6,500
Administrative expenses	26,750
Number of units started and produced during the year	3,500 units

Required: What are the total period costs for the year?

Required: What is the net income for the year if 3,000 units are sold for $30 each?

Required: What is the end of year balance for the Finished Goods inventory