At the beginning of the year, Bramble Shipping Ltd., a company that has a perpetual inventory system, had $55,000 of inventory. During the year, inventory costing $217,800 was purchased. Of this, $25,800 was returned to the supplier and a 5% discount was taken on the remainder. Freight costs incurred by the company for inventory purchases amounted to $2,900. The cost of goods sold during the year was $222,200. Determine the balance in the Inventory account at the end of the year.