Response to the following problem:
On January 1, Feldstein Manufacturing had a beginning balance in Work in Process Inventory of $81,100 and a beginning balance in Finished Goods Inventory of $20,200. During the year, Feldstein incurred manufacturing costs of $350,100. During the year, the following transactions occurred:
Job A-12 was completed for a total cost of $120,000 and was sold for $126,700.
Job A -13 was completed for a total cost of $201,800 and was sold for $210,000.
Job A-15 was completed for a total cost $67,000 but was not sold as of year-end.
What was the balance in Finished Goods Inventory at the end of the year?