The following inventory transactions took place for Wildhorse Corporation for the month of May: Cost/ Selling Price $3.10 Date Event beginning inventory purchase purchase sale 3.30 3.40 Quantity 2,040 4,920 3,950 6,010 2,020 4,160 2,030 5,980 May 1 May 5 May 10 May 15 May 20 May 22 May 24 May 25 6.70 sale 6.70 3.60 purchase purchase sale 3.60 6.70 Calculate the ending inventory balance for Wildhorse Corporation, assuming the company uses a perpetual inventory system and the first-in, first-out (FIFO) cost formula. $ Ending inventory