Misk Company uses the periodic inventory method and had the following inventory information available:

Units Unit Cost Total Cost

1/1 Beginning Inventory 100 $3 $ 300

1/20 Purchase 500 $4 2,000

7/25 Purchase 100 $5 500

10/20 Purchase 300 $4 1,200

1,000 $3,000

A physical count of inventory on December 31 revealed that there were 400 units on hand. Assuming that the company uses the Average cost method. The cost of the ending inventory on December 31 is