A start-up company using the moving-average method has the following profile for a month:

• no beginning inventory
• purchases of 10,000 units at $1 per unit in the first week
• purchases of 15,000 units at $1.50 per unit in the third week
• purchase of 12,000 units at $1.40 per unit and sales of 13,000 units on the last day of the month

 

What is this month's ending balance in the inventory account, rounded to the nearest hundred?