BentonManufacturing produces snow shovels. The selling price per snow shovel is $31.00. There is no beginning inventory.

Costs involved in production are:

Direct material

$4.00Direct labor

4.00Variable manufacturing overhead

3.00Total variable manufacturing costs per unit

$11.00Fixed manufacturing overhead per year

$180,200

In addition, the company has fixed selling and administrative costs of $162,600per year.

During the year,Bentonproduces53,000snow shovels and sells48,270snow shovels.

What is the value of ending inventory using full costing?