The following inventory transactions took place for Sheridan Corporation for the month of May: Date May 1 May 5 May 10 May 15 May 20 May 22 May 24 May 25 Event beginning inventory purchase purchase sale sale purchase purchase sale Quantity 2,000 5.140 3,900 5,820 1,950 4,120 2,020 5,960 Cost/ Selling Price $3.30 3.50 3.60 6.50 6.50 3.80 3.80 6.50 Calculate the ending inventory balance for Sheridan Corporation, assuming the company uses a periodic inventory system and the weighted average cost formula. (Round average unit costs to 2 decimal places, e.g. 52.75 and final answer to decimal places, eg. 5,275.) $ Ending inventory