11. 
    

A manufacturing company maintains a perpetual inventory system. During the year, they made the following transactions:

• Beginning inventory: 200 units at $5 per unit
• Purchases:
  • January: 300 units at $6 per unit
  • March: 400 units at $7 per unit
• Sales:
  • Sold 700 units

Calculate the ending inventory value using the FIFO method.