Annapolis Clothing Company manufactures quality boating attire.The following selected financial information for the fiscal year 2018 is provided:

Item

Amount

Sales

$200,000

Cost of Goods Manufactured

46,000

Direct Material Purchased

80,000

Factory Overhead

20,000

Work in Process - January 1

60,000

Work in Process - December 31

30,000

Direct Material - December 31

20,000

Finished Goods Inventory - December 31

40,000

Net Income

30,000

Direct Materials used

60,000

Cost of Goods Sold

53,000

Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2018. (Round dollar values & enter as whole dollars only.)