Problem
Sanchez Company engaged in the following transactions during Year 1:
i. Started the business by issuing $45,800 of common stock for cash.
ii. The company paid cash to purchase $28,300 of inventory.
iii. The company sold inventory that cost $17,900 for $35,350 cash.
iv. Operating expenses incurred and paid during the year, $15,900.
Sanchez Company engaged in the following transactions during Year 2:
i. The company paid cash to purchase $39,000 of inventory.
ii. The company sold inventory that cost $34,700 for $61,750 cash.
iii. Operating expenses incurred and paid during the year, $19,900.
Note: Sanchez uses the perpetual inventory system.
What is the amount of inventory that will be shown on the balance sheet as of December 31, Year 2?