Mendez Inc. had the following information for the preceding year. Beginning Ending Inventory Inventory (1/1) (12/31) Work in Process Inventory $ ?? $ 37,000 Finished Goods Inventory $ ?? $ 32,000 Additional information for the year is as follows: Direct materials used Direct labor $210,000 $160,000 Manufacturing overhead applied $170,000 Cost of goods manufactured $535,000 Unadjusted cost of goods sold $554,000 What was the beginning Finished Goods Inventory balance on 1/1? Multiple Choice $51,000 $52,000 $67,000 $71,000