The following inventory transactions took place for Cullumber Corporation for the month of May:

Date		Event		Quantity			Cost/ Selling Price
May 1		beginning inventory		4,000			$3.20
May 5		purchase		3,000			3.40
May 10		purchase		3,000			3.50
May 15		sale		4,000			6.20
May 20		sale		4,000			6.20
May 22		purchase		1,500			3.70
May 24		purchase		4,500			3.70
May 25		sale		4,000			6.20

Calculate the ending inventory balance for Cullumber Corporation, assuming the company uses a perpetual inventory system and the moving-average cost formula. (Round unit costs to 2 decimal places, e.g. 52.75 and final answer to 0 decimal places, e.g. 5,275.)

Ending inventory

$