A company operates a continuous process into which 3,000 units of material costing $9,000 was input

in a period. Conversion costs for this period were $11,970 and losses, which have a scrap value of

$1.50, are expected at a rate of 10% of input. There were no opening or closing inventories and output

for the period was 2,900 units.

What was the output valuation?