McGuire Metals Ltd uses the periodic inventory method and had the following inventory information available: Units Unit Total cost cost 1/1 Beginn 216 $3 $648 ing invent ory 1/20 Purcha200 $6 $1200 se 7/25 Purcha255 $6 $1530 se 10/2 Purcha225 $9 $2025 0 se 896 $5403 A physical count of inventory on 31 December revealed that there were 505 units on hand. Assume that the company uses the Average cost method. Calculate and enter the value of the ending inventory at 31 December in the answer space below: