A company purchased 500 units for $ 20 each on January 31. It purchased 550 units for $ 22 each on February 28. It sold a total of 640 units for $ 45 each from March 1 through December 31. What is the cost of ending inventory on December 31 if the company uses the firstin, firstout (FIFO) inventory costingmethod?

$8,200

$9,020

$3,220

$4,980