At the end of November 2020, Pope Ltd. held 20 pairs of luxury shoes purchased for $1,000 each. During the month of December, the following pairs of shoes were purchased and sold: December 7 Sold 8 pairs of shoes for $2,000 each December 15 Purchased 10 pairs of shoes for $1.500 each December 27 Sold 20 pairs of shoes for $2,500 each If Pope Ltd. uses the perpetual inventory system and First-In-First-Out (FIFO) cost-flow assumption, what is the ending inventory balance? $3,000 $2.500 $3,750 $3.500 $2.000