Sales for the year were $71,000 and cost of goods sold were $56,800.
The balance sheet at the end of the year is given below:
Assets Liabilities and Equity
Cash $14,000 Accounts payable $19,000
Accounts receivable $4,000 Current liabilities $19,000
Inventory $39,000 Long-term debt $95,000
Current assets $57,000 Total liabilities $114,000
Machines $34,000 Paid-in capital $20,000
Real estate $80,000 Retained earnings $37,000
Net fixed assets $114,000 Equity $57,000
Total assets $171,000 Total liab. & equity $171,000
What is the firm's sales in inventory?