Crystal Corporation produces a single product. The company's variable costing income statement for the month of May appears below:

Crystal Corporation Income Staement For the month ended May 31
Sales ($17 per unit)	$ 708,900
Variable expenses:
Variable cost of goods sold	417,000
Variable selling expense	125,100
Total variable expenses	542,100
Contribution margin	166,800
Fixed expenses:
Fixed manufacturing overhead	107,490
Fixed selling and administrative	35,830
Total fixed expenses	143,320
Net operating income	$ 23,480

The company produced 35,830 units in May and the beginning inventory consisted of 8,560 units. Variable production costs per unit and total fixed costs have remained constant over the past several months.

The value of the company's inventory on May 31 under absorption costing would be:

$26,900

$43,040

$34,970

$48,040