The following inventory transactions took place for Crane Corporation for the month of May: Cost/ Selling Price Date Event Quantity May 1 beginning inventory 2,070 $3.10 May 5 purchase 5,220 3.30 May 10 purchase 4,040 3.40 May 15 sale 5,750 6.00 May 20 sale 2,030 6.00 May 22 purchase 3,940 3.60 May 24 purchase 2,030 3.60 May 25 sale 6,005 6.00 Calculate the ending inventory balance for Crane Corporation, assuming the company uses a periodic inventory system and the weighted average cost formula. (Round average unit costs to 2 decimal places, eg. 52.75 and final answer to decimal places, eg. 5,275.) Ending inventory