The following information is for X Company, a manufacturer, in 2018: Direct materials purchased Direct materials used Direct labor Overhead Work in Process Inventory, January 1, 2018 Work in Process Inventory, December 31, 2018 Finished Goods Inventory, December 31, 2018 Cost of Goods Sold $33,342 30,996 14,579 21,917 6,240 8,530 2,862 65,626 What was the balance in Finished Goods Inventory on January 1, 2018