3) Cinnabar, Inc. has provided the following data for the year:

Direct materials	$10	per unit
Direct labor	$15	per unit
Variable manufacturing overhead	$20	per unit
Fixed manufacturing overhead	$25,000	per year
Fixed selling and administrative costs	$15,000	per year
Sales price	$75	per unit
Beginning Finished Goods Inventory	500	units
Units produced	5,000	units
Units sold	4,500	units

Calculate the balance in Finished Goods Inventory using absorption costing and variable costing.

Assume that the production level, costs, and sales prices were the same in the previous year.