Madison, Inc. had the following balances and transactions during 2017. Beginning Inventory 40 units at $73 June 10 Purchased 80 units at $77 December 30 Sold 74 units December 31 Replacement cost $79 The company maintains its records of inventory on a perpetual basis using the last-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory at December 31, 2017 using the lower-of-cost-or-market rule. (Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.)

$3,542

$3,382

$3,634

$2,920