At 30/6/2020 a full physical inventory was carried out showing the following: Raw materials Items A and B = 3,000 units at a cost of $5 per unit Item C = 1,000 units cost $1 per unit, but no longer used by the business with a resale value of 60 cents per unit Finished goods 200 units 1,900 units were produced during the year (planned / normal capacity 2,000 units). Cost to produce: materials $129,380, direct labor $121,000, variable overheads $73,000 and fixed overheads $52,500 What is the value of closing inventory?