VanBuren Inc. had the following information about inventory balances for the year:

Beginning Inventory January 1			Ending Inventory December 31
Raw Materials Inventory	$	40,000		$	30,000
Work in Process Inventory	$	35,000		$	??
Finished Goods Inventory	$	30,000		$	??

Additional information for the year is as follows:

Direct materials used$200,000

Direct labor$150,000

Applied Manufacturing overhead$160,000

Cost of goods manufactured (COGM)$525,000

Unadjusted Cost of goods sold (COGS)$544,000

What was the ending Work in Process Inventory balance on December 31?

• $50,000

• $54,000

• $11,000

• $20,000