Santos Inc. had the following information for the preceding year: Beginning Ending Inventory Inventory (1/1) (12/31) Raw Materials Inventory Work in Process Inventory $ 40,000 $ 30,000 $ 35,000 $ ?? Finished Goods Inventory $30,000 $ ?? Additional information for the year is as follows: Direct materials used $200,000 Direct labor $150,000 Manufacturing overhead applied $160,000 Cost of goods manufactured $525,000 Cost of goods sold $544,000 What was the ending Work in Process Inventory balance on 12/31