The following inventory transactions took place for Ivanhoe Corporation for the month of May: Cost/ Selling Price Date Event beginning inventory purchase Quantity 2,030 May 1 $3.30 May 5 5,200 3.50 May 10 purchase 4,060 3.60 May 15 sale 5.730 6.20 May 20 sale 2.050 6.20 purchase May 22 3,880 3.80 May 24 purchase 2.060 3.80 May 25 sale 5.985 6.20 Calculate the ending inventory balance for Ivanhoe 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 0 decimal places, eg: 5.275