On January 15, 20X4, Violet Muir valued her inventory at cost, $41,000. Her statements are based on the calendar year, so you find it necessary to establish an inventory figure as of January 1, 20X4. You find that from January 2 to January 15, sales were $71,200; sales returns, $2,300; goods purchased and placed in stock, $54,000; goods removed from stock and returned to suppliers, $1,000; and freight in, $400. Calculate the inventory cost as of January 1, assuming that goods are priced to provide a 24% gross profit.