Vogts Company sells TVs, and uses the perpetual inventory system. The December 31, 2020 Ending Inventory was stated as $38,500, before the following information was discovered:

TVs costing $5,000 were shipped to a customer on January 2, 2021 and this sale was recorded on January 2, 2021. The $5,000 value of these TVs was included in the December 31, 2020 Ending Inventory balance.

TVs costing $10,000 were received and placed in the receiving department on December 30, 2020. This shipment of TVs was not recorded on the books until January 2, 2021.

TVs costing $4,600 were recorded twice, in December 2020.

TVs costing $3,700 were never recorded during 2020.

TVs costing $6,000 were shipped to a customer, FOB Shipping Point, on December 28, 2020. These TVs were included in the Ending Inventory balance on December 31, 2020.

Required: Calculate the Correct Ending Inventory Balance for December 31, 2020