Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):

• 43 units at $107 per unit
• 71 units at $71 per unit
• 172 units at $61 per unit

Sales for the year totaled 266 units, leaving 20 units on hand at the end of the year.

What is the ending inventory using the average cost method?