The following inventory transactions took place for Sandhill Corporation for the month of May: Cost/ Selling Date Event Quantity Price May 1 beginning inventory 3,000 $3.00 May 5 purchase 3,000 3.20 May 10 purchase 4,000 3.30 May 15 sale 4,000 6.00 May 20 sale 4,000 6.00 May 22 purchase 2,000 3.50 May 24 purchase 4,000 3.50 May 25 sale 4,000 6.00 Calculate the ending inventory balance for Sandhill Corporation, assuming the company uses a perpetual inventory system and the moving-average cost formula. (Round unit costs to 2 decimal places, eg. 52.75 and nal answer to 0 decimal places, e3. 5,275.) Ending inventory $