Slugging Baseball Co. buys and sells baseballs. They employ the weighted average method of inventory valuation. At the beginning of the year, Slugging Baseball Co. had 211 baseballs which had been purchased at $1.20 per baseball. In June. Slugging Baseball Co. bought 371 baseballs for $2.30 per baseball. In September, Slugging Baseball Co. sold 270 baseballs for $5.90 per baseball. In December, Slugging Baseball Co. bought 460 baseballs for $3.60 per baseball. What is the value of inventory held by Slugging Baseball Co. at the end of the year?