Santos Incorporated had the following information for the preceding year:

Beginning Inventory $(1/1)$ Ending Inventory $(12/31)$

Raw Materials Inventory $ $42,700$ $ $32,600$

Work in Process Inventory $39,000??$

Finished Goods Inventory $34,000??$

Additional information for the year is as follows:

Direct materials used $ $208,500$

Direct labor $155,200$

Manufacturing overhead applied $166,700$

Cost of goods manufactured $527,700$

Unadjusted cost of goods sold $551,800$

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

Multiple Choice

$$41,700$

$$63,100$

$$9,900$

$$61,700$