During its first year of operations, Nickelback Company paid $11,000 for direct material, $20,000 in wages for production workers, and $30,000 wages for administrative and sales personnel. Lease payments and utilities on the administrative building and production facilities amounted to $5,000 and $7,000, respectively. General, selling, and administrative expenses were $6,000. The company owns a delivery car and manufacturing equipment. The annual depreciation on the car is $ 1,000. The original cost of the equipment is $10,000 and has a salvage value of $2,000 after 4 years. The company produced 5,000 units and sold 4,000 units at a price of $15 a unit.

Indicate the cost of ending inventory