You were given the following information about one of Jacobsen Inc.'s inventory item X. Date 01/01/2019 05/14/2019 08/17/2019 Transaction Number of units Beginning inventory Purchase 35 Cost per unit $25 40 $39 Purchase 20 $42 Jacobsen Inc. applies the Last-in-first-out (LIFO) assumption and adopts the lower of cost or net realizable value. At the end of the year, the ending inventory consisted of 45 units of Item X and the net realizable value of the Item X was $28 What was the value of Jacobsen's inventory at the end of the year? (3 points)