Basil Industries reported the following information for December:
Beginning balance, Raw Materials Inventory
$187,500
Beginning balance, Work in process Inventory
300,000
Beginning balance, Finished Goods Inventory
106,250
Purchases of raw materials
337,500
Factory electricity
62,500
Direct labor payroll
200,000
Depreciation on factory equipment
218,750
Insurance on factory building
50,000
Indirect materials used in production
43,750
Total raw materials used in production
406,250
Indirect labor payroll
150,000
Cost of goods manufactured
1,250,000
Cost of goods sold
1,312,500
What was the ending balance in Basil's Finished Goods Inventory account?
