Exercise 2.27 Selected information concerning the operations of a company for the year ended December 31 is as follows: Units produced 20,000 Units sold 18,000 Direct materials used $80,000 Direct labor incurred $40,000 Factory overhead $74,000 Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was $9,650 (for 1,000 units). Cost of goods sold was $174,600. What was the company's finished goods inventory cost at December 31? a. $98,050 b. $29,100 $29,050 d. S40,600 c