The following inventory transactions took place for Cullumber Corporation for the month of May: Date May 1 May 5 May 10 May 15 May 20 May 22 May 24 beginning inventory purchase purchase sale Event sale purchase purchase Quantity 2,050 4,960 4,050 5,960 2.160 3.900 1,870 Cost/ Selling Price $3.20 3.40 3.50 6.10 6.10 3.70 3.70

The following inventory transactions took place for Cullumber Corporation for the month of May: Calculate the ending inventory balance for Cullumber Corporation, assuming the company uses a perpetual inventory system and the first-in, first-out (FIFO) cost formula. (Round the final answer to 0 decimal ploces, es. 5.275) Ending irventory $