Kern Corporation produces a single product. Selected information concerning the operations of the company follow: Units in beginning inventory 0 Units produced 10,000 Units sold 9,000 Direct materials $ 40,000 Direct labor $ 20,000 Variable manufacturing overhead $ 12,000 Fixed manufacturing overhead $ 25,000 Variable selling and administrative expenses $ 4,500 Fixed selling and administrative expenses $ 30,000 Assume that direct labor is a variable cost. Under absorption costing, the value of the ending finished goods inventory would be