Walberg Associates, antique dealers, purchased goods for $$37,900.$ Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates's warehouse was $$1,400.$ Walberg Associates insured the shipment at a cost of $$190.$ Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $$530.$

Determine the cost of inventory.