Santos Inc. had the following information for the preceding year:

	Beginning Inventory (1/1)			Ending Inventory (12/31)
Raw Materials Inventory	$	45,600		$	32,500
Work in Process Inventory	$	37,900		$	??
Finished Goods Inventory	$	33,200		$	??

Additional information for the year is as follows:

Direct materials used	$	209,300
Direct labor	$	158,500
Manufacturing overhead applied	$	162,200
Cost of goods manufactured	$	525,200
Unadjusted cost of goods sold	$	544,000

What was the ending Finished Goods Inventory balance on 12/31?

Multiple Choice

• $56,700

• $14,400

• $67,800

• $42,700