In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,000. During the month, $404,000 of costs were added to production and the cost of units transferred out from the department was $426,000.

In the departments cost reconciliation report for January, the cost of beginning work in process inventory for the department would be:

Multiple Choice

$414,000

$10,000

$392,000

$34,000