The following information was available from the inventory records of UMUC Company

for January:

Units Unit Cost Total Cost

Balance at January 1 3,000 $9.77 $29,310

Purchases:

January 6 2,000 10.30 20,600

January 26 2,700 10.71 28,917

Sales:

January 7 (2,500)

January 31 (4,000)

Balance at January 31 1,200

Assuming that UMUC maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar?