Pikachu Company had the following information for the prior year:

	Beginning Inventory (January 1)			Ending Inventory (December 31)
Work in Process Inventory	$	??		$	55,000
Finished Goods Inventory	$	??		$	50,000

Additional information for the year is as follows:

Direct materials used	$	300,000
Direct labor	$	250,000
Manufacturing overhead applied	$	260,000
Cost of goods manufactured	$	625,000
Unadjusted cost of goods sold	$	644,000

What amount should be in the beginning Finished Goods Inventory balance on January 1?

Multiple Choice

• $85,000

• $89,000

• $70,000

• $69,000