The following units of a particular item were available for sale during the year: Beginning inventory 150 units @ $755 Sale 120 units @ $925 First purchase 400 units @ $785 Sale 200 units @ $925 Second purchase 300 units @ $805 Sale 290 units @ $925 The firm uses the perpetual inventory system and there are 240 units of the item on hand at the end of the year. What is the total cost of ending inventory according to LIFO?