Helner Company maintains its internal inventory records using first-in, first-out (FIFO) under a perpetual inventory system. The following information relates to its inventory during the year: Feb. 1 Beginning inventory 20,000 units Mar. 12 Purchased 70,000 units for $12.70 each. May 30 Sold 50,000 units for $20.00 each. Aug. 22 Purchased 50,000 units for $12.90 each. Oct. 9 Sold 70,000 units for $20.00 each. Nov. 19 Purchased 40,000 units for $13.25 each. Dec. 31 Ending inventory 60,000 units. 3. Determine the amount Helner would report for its LIFO reserve at the end of the year