Granger Manufacturing produces snow shovels. The selling price per snow shovel is $32.00. There is no beginning inventory.

Costs involved in production are:
Direct material		$5.00
Direct labor		4.00
Variable manufacturing overhead		4.00
Total variable manufacturing costs per unit		$13.00
Fixed manufacturing overhead per year		$196,560

In addition, the company has fixed selling and administrative costs of $170,400 per year. During the year, Granger produces 54,600 snow shovels and sells 49,950 snow shovels.

What is the value of ending inventory using variable costing?