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

DateEventQuantityCost/

Selling

PriceMay 1beginning inventory1,500$3.30May 5purchase3,5003.50May 10purchase5,0003.60May 15sale5,0006.00May 20sale3,0006.00May 22purchase3,0003.80May 24purchase3,0003.80May 25sale5,0006.00

Calculate the ending inventory balance forCullumberCorporation, 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$