The following information is available for Standards Company:
Accounts payable, January 1, 2026 = $8,500
Inventory, January 1, 2026 = $12,500
Accounts payable, December 31, 2026 = $11,000
Cost of Goods Sold for 2026 = $92,000
Payments to vendors during 2026 = $91,000
12/31/26 Inventory is
a. $9,000
b. $14,000
c. $10,000
d. $13,000
e. $16,500