Summit Manufacturing produces snow shovels. The selling price per snow shovel is $30. There is no beginning inventory.

Costs involved in production are:
Direct material	$ 5
Direct labor	4
Variable manufacturing overhead	3
Total variable manufacturing costs per unit	$ 12
Fixed manufacturing overhead per year	$180,000

During the year, Summit produces 50,000 snow shovels and sells 45,000 snow shovels.

How much fixed manufacturing overhead is in ending inventory under full costing? Compare this amount to the difference in the net incomes calculated in Exercise 5-13.

Please show steps.