A company purchased 400 units for $ 30 each on January 31. It purchased 300 units for $ 40 each on February 28. It sold a total of 360 units for $ 100 each from March 1 through December 31. If the company uses the lastminusin, firstminusout inventory costing method, calculate the cost of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.)