Elizabeth R Us is currently operating at 100% capacity and incurred the following costs during the first month of operations: Units produced 20500 Direct labor $246000 Direct material 179700 Variable manufacturing overhead 280900 Fixed manufacturing overhead 92900 Variable operating expenses 129500 Fixed operating expenses 50900 If the company has ending inventory of 1800 units for the month, how much inventory would be reported on the balance sheet using absorption costing?