On November $1,20$x$8,$ Perry Co$.$ purchased $100,000$ FCU of inventory. Payment is due January $31,209.$ In order to hedge the foreign purchase, Perry Co$.$ also entered in to a forward contract on November $1,208$ to purchase $100,000$ FCU on January $31,20$x$9.$ Perry Co$.$ has a December $31$st year$-$end.

The spot rates during this period were as follows:

Date

November $1,20x8$

December $15,20x8$

December $31,208$

January $31,209$

Spot rate

$$1\mathrm{.}29CS=1$FCU

$$1\mathrm{.}33CS=1$FCU

$$1\mathrm{.}42CS=1$FCU

$$1\mathrm{.}38C$$$=1$FCU

Forward rates for settlement on January $31,209$ during this period were as follows:

Date

November $1,20$x $8$

December $15,20$x $8$

December $31,20x8$

Forward rate

$$1\mathrm{.}30CS=1$FCU

$$1\mathrm{.}35CS=1$FCU

$$1\mathrm{.}43CS=1$FCU

On December $31,20x8,$ at what value will the inventory be recorded on Perry Co$.\text{'}$s balance sheet?