Problem - Davido Inc had the following information for the preceding year:

Beginning Inventory (1/1) Ending Inventory (12/31)

Raw Materials Inventory $43,200 $38,400

Work in Process Inventory $42,400 $??

Finished Goods Inventory $35,600 $??

Additional information for the year is as follows:

Direct materials used $202,600

Direct labor $154,000

Manufacturing overhead applied $164,800

Cost of goods manufactured $526,700

Cost of goods sold $547,900

What was the ending Finished Goods Inventory balance on 12/31?

$33,100

$51,700

$63,600

$9,300