A company purchased 300 units for $20 each on January 31. It purchased 200 units for $40 each on February 28. It sold a total of 250 units for $110 each from March 1 through December 31. If the company uses the last-in, first-out (LIFO) inventory costing method, calculate the cost of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.) $5,000 $10,000 $22,500 $250