Meow Foods Had 2,000 25-Pound Bags of Cat Food in Beginning

Meow Foods had 2,000 25-pound bags of cat food in beginning inventory.During 2017, the company manufactured 16,000 bags and sold 15,000 units.Assume the same unit costs in all years.Each bag of food is sold for $17.The company experienced the following costs: $\begin{array}{lr}\text { Direct materials } & \$ 4.50 \text { per unit } \\\text { Direct labor } & \$ 2.10 \text { per unit } \\\text { Variable manufacturing overhead } & \$ 1.90 \text { per unit } \\\text { Variable selling } & \$ 1.00 \text { per unit } \\\text { Fixed manufacturing overhead } & \$ 48,000 \\\text { Fixed selling } & \$ 24,000 \\\text { Fixed administrative } & \$ 30,000\end{array}$ If the company uses full costing, how much will be reported as inventory on the December 31, 2017 balance sheet?

A) $9,000
B) $25,500
C) $28,500
D) $34,500