The company has one LIFO pool. Information relating to the products in this pool is as follows:
Beginning inventory, January 1 . . . . . . . . . . . . . . . . . . 25 units @ $20 each
Purchase, February 12 . . . . . . . . . . . . . . . . . . . . . . . . . 30 units @ $22 each
Purchase, February 28 . . . . . . . . . . . . . . . . . . . . . . . . . 45 units @ $26 each
Purchase, March 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 units @ $28 each
Sales for the first quarter . . . . . . . . . . . . . . . . . . . . . . . 120 units
Compute the ending LIFO inventory value for the first quarter assuming new layers are valued based on a LIFO cost assumption.