On January 15, 20 times 4, Violet Muir valued her inventory at cost. $41,000. Her statements are based on the calendar year, so you find it necessary to establish an inventory figure as of January 1.20 times 4. You find that from January 2 to January 15, sales were $71, 200; sales returns, $2, 300; goods purchased and placed in stock. $54,000; goods removed from stock and returned to suppliers. $ 1,000; and freight in, $400. Calculate the inventory cost as of January 1, assuming that goods are priced to provide a 24% gross profit.