Iron Throne black is one of the most popular colors, at Cristiano Ronaldo's boutique publishing company. Iron Throne black is a specialty ink that has an annual demand of 50,000 gallons. The ordering cost is $50 per order. The holding cost is $5 per unit per year. Per Ronaldo's purchasing manager, Taylor Kelce, the economic order quantity is 1, 000. During the Ronaldo Publishing year, the managers used 1,000 as the order quantity. Taylor Kelce decided to perform an audit to be sure the numbers used in making decisions were accurate. An audit of the costs revealed:

that the ordering cost was only $25.

that the holding cost was doubled (at $10 per unit per year).

and that the correct order quantity should have been 500.

How much did Ronaldo lose due to incorrect cost information during the year?