ces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,550 rackets and sold 5,180. Each racket was sold at a price of $90. Fixed overhead costs are $85,150 per year, and fixed selling and administrative costs are $66,400 per year. The company also reports the following per unit variable costs for the year. Direct materials $ 12 Direct labor 8 Variable overhead 5 Variable selling and administrative expenses 2 Compute the cost of ending finished goods inventory reported on the balance sheet using variable costing.