Tampa Foundry began operations during the current year, manufacturing various products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows.

Per Unit Variable Cost Fixed Cost
Direct materials $4.50 $ —
Direct labor 6.5 —
Factory overhead 9 50,000
Selling — 70,000
Administrative — 135,000


Production and sales totaled 20,000 rolls and 17,000 rolls, respectively There is no work in process. Tampa carries its finished goods inventory at the average unit cost of production.
Instructions:

a. Determine the cost of the finished goods inventory of light-gauge aluminum.