The units of an item available for sale during the year are as follows:

Jan 1 Inventory 27 units at 400 per unit

Feb 19 Purchase 54 units at 460 per unit

June 8 Purchase 62 units at 540 per unit

Oct 7 Purchase 56 units at 550 per unit

There are 45 units of the item in the physical inventory at December 31

1. Determine the inventory cost by the average cost method. Do not round intermediate calculation and round final answer to nearest whole value