Concord Company's inventory records show the following data:

$\backslash$table$[[,$Units,Unit Cost,$],[$Inventory: January $1,9800,$$$9\mathrm{.}00,],[$Purchases: June $18,8500,8\mathrm{.}00,],[,$November $8,6400,7\mathrm{.}00]]$

A physical inventory on December $31$ shows $4500$ units on hand. Concord sells the units for $$13$ each. The company has an effective tax rate of $18\%.$ Concord uses the periodic inventory method. Under the FIFO method, the December $31$ inventory is valued at

$$36000$

$$48700$

$$31500$

$$40500$