SteeringManufacturing produces snow shovels. The selling price per snow shovel is $31.00. There is no beginning inventory.

Costs involved in production are:

Direct material $4.00

Direct labor $ 4.00

Variable manufacturing overhead $3.00

Total variable manufacturing costs per unit $11.00

Fixed manufacturing overhead per year $180,200

In addition, the company has fixed selling and administrative costs of $162,600per year.

During the year,Steeringproduces53,000snow shovels and sells48,270snow shovels.

What is the value of ending inventory using full costing?