Maddox Specialty Company, a division of Lost World Inc., manufactures three models of gear shift components for bicycles that are sold to bicycle manufacturers, retailers, and catalog outlets. Since beginning operations in 1990, Maddox has used normal absorption costing and has assumed a first-in, first-out cost flow in its perpetual inventory system. The balances of the inventory accounts at the end of Maddoxs fiscal year, November 30, 2014, are shown below. The inventories are stated at cost before any year-end adjustments.

Finished goods		$671,780
Work in process		126,200
Raw materials		273,900
Factory supplies		69,200

The following information relates to Maddoxs inventory and operations. 1. The finished goods inventory consists of the items analyzed below.

		Cost		Market
Down tube shifter
Standard model		$ 67,900		$ 67,200
Click adjustment model		96,600		90,330
Deluxe model		115,600		112,900
Total down tube shifters		280,100		270,430
Bar end shifter
Standard model		84,410		90,330
Click adjustment model		104,200		102,700
Total bar end shifters		188,610		193,030
Head tube shifter
Standard model		78,270		77,900
Click adjustment model		124,800		126,700
Total head tube shifters		203,070		204,600
Total finished goods		$671,780		$668,060

2.		One-half of the head tube shifter finished goods inventory is held by catalog outlets on consignment.
3.		Three-quarters of the bar end shifter finished goods inventory has been pledged as collateral for a bank loan.
4.		One-half of the raw materials balance represents derailleurs acquired at a contracted price 20% above the current market price. The market value of the rest of the raw materials is $135,000.
5.		The total market value of the work in process inventory is $116,460.
6.		Included in the cost of factory supplies are obsolete items with an historical cost of $4,280. The market value of the remaining factory supplies is $65,700.
7.		Maddox applies the lower-of-cost-or-market method to each of the three types of shifters in finished goods inventory. For each of the other three inventory accounts, Maddox applies the lower-of-cost-or-market method to the total of each inventory account.
8.		Consider all amounts presented above to be material in relation to Maddoxs financial statements taken as a whole.

(a) Prepare the inventory section of Maddoxs balance sheet as of November 30, 2015. (Round answers to 0 decimal places, e.g. 2,550.)