The following information was available from the inventory records of Sunland Company for January:

	Units				Unit Cost			Total Cost
Balance at January 1					9000				$9.80			$88200
	Purchases:
		January 6			5900				10.32			60888
		January 26			8000				10.70			85600
	Sales
		January 7			(7400	)
		January 31			(11000	)
Balance at January 31					4500

Assuming that Sunland maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)

$46117.

$46638.

$47360.

$46220.