Mendez Inc. had the following information for the preceding year: Beginning Ending Inventory Inventory (1/1) (12/31) $ 22 $ 42,300 $ ?? $ 32,200 3 Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Direct materials used $207,400 Direct labor $152,100 Manufacturing overhead applied $164,600 Cost of goods manufactured $531,300 Cost of goods sold $546,000 What was the beginning Work in Process Inventory balance on 1/1? What was the beginning Work in Process Inventory balance on 1/1? Multiple Choice $72,800 O $49,500 $46,900 $74,500