XYZ Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $5 $ 500 20/2 Purchase 400 2,400 $6 25/7 200 Purchase $7 1,400 10/10 300 Purchase $9 2.700 1,000 $7,000 A physical count on December 31 revealed that there were 450 units on hand (NOT sold) Calculate the cost of Ending Inventory under FIFO