In 2003, Ahmad & CO. (a hardware retail company) sold 10,000 units of its product at an average price of $400 per unit. The company reported estimated Returns and allowances in 2003 of $200,000. Ahmad & CO purchased 11,000 units of its product from its manufacturer in 2003 at an average cost of $300 per unit. Ahmad & CO. began 2003 with 900 units of its product in inventory (carried at an average cost of $300 per unit). Operating expenses (excluding depreciation) for Ahmad & CO. in 2003 were $400,000 and depreciation expense was $100,000. Ahmad & CO. had $2,000,000 in debt outstanding throughout all of 2003. This debt carried an average interest rate of 10 percent. Finally, Ahmad & CO. s tax rate was 40 percent. Ahmad & CO.s fiscal year runs from January 1 through December 31. Given this information, construct Ahmad & CO.s 2003 multi-step income statement.

What was Ahmad & CO.s 2003 ending inventory balance (in both units and in dollars)?