Kirks Kitchen Supplies Ltd. sells five products in bulk. At December 31, 2021, the products had the following information:

Spatulas Frying Pans Pots Cutlery Knives General Ledger (at cost) $ 29,112 $ 14,676 $ 28,307 $ 12,644 $ 18,293 Replacement cost $ 26,606 $ 18,292 $ 26,202 $ 8,692 $ 15,612 Total Selling Price $ 34,720 $ 19,208 $ 26,626 $ 11,518 $ 17,276 1) What $ amount should each product be recorded at on the books?

2) What is the total $ amount of inventory as at December 31, 2021?