Selected information concerning the operations of a company for the year ended December 31 is as follows:

Units produced ....... 20,000

Units sold .......... 18,000

Direct materials used ........ $80,000

Direct labor incurred ....... $40,000

Factory overhead ....... $74,000

Work in process inventories at the beginning and end of the year were zero. Beginning inventory of finished goods was $9,650 (for 1,000 units). Cost of goods sold was $174,600. What was the company's finished goods inventory cost at December 31?

a. $98,050

b. $29,100

c. $29,050

d. $40,600