Sanchez Company engaged in the following transactions during Year 1:

1) Started the business by issuing $14,500 of common stock for cash.

2) The company paid cash to purchase $8,600 of inventory.

3) The company sold inventory that cost $6,000 for $12,650 cash.

4) Operating expenses incurred and paid during the year, $5,500.

Sanchez Company engaged in the following transactions during Year 2:

1) The company paid cash to purchase $12,800 of inventory.

2) The company sold inventory that cost $10,200 for $19,250 cash.

3) Operating expenses incurred and paid during the year, $6,500.

Note: Sanchez uses the perpetual inventory system.

The balance in the inventory account shown at December 31, Year 2 is