A company purchased 500 units for $30 each on January 31. It purchased 550 units for $33 each on February 28. It sold a total of 650 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 first in, firstout (FIFO) inventory costing method? (Assume that the company uses a perpetual inventory system.)