ABC Company employs a periodic inventory system and sells its inventory to customers for $23 per unit. ABC Company had the following inventory information available for the month of May: May 1 May 8 May 13 May 18 May 21 May 28 May 30 Beginning inventory 1,500 units @ $12 cost per unit Sold 1,100 units Purchased 1,700 units @ $21 cost per unit Sold 1,000 units Purchased 1,600 units @ $18 cost per unit Sold 800 units Purchased 1,200 units @ $22 cost per unit During May, ABC Company reported operating expenses of $5,000 and had an income tax rate of 36%. Calculate the dollar amount of ending inventory shown on ABC Company's May 31 balance sheet using the FIFO method