A company produces a single product. Variable production costs are $12.4 per unit and variable selling and administrative expenses are $3.4 per unit. Fixed manufacturing overhead totals $40,000 and fixed selling and administration expenses total $44,000. Assuming a beginning inventory of zero, production of 4,400 units and sales of 3,800 units, the dollar value of the ending inventory under variable costing would be:

$7,440

$12,840

$9,480

$5,400