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Additional Problem 1 The following inventory transactions took place for Crane Corporation for the month of May: Cost/ Selling Event Date May 1 beginning inventory 2,000 $3.40 May S purchase May 10 purchase May 15 sale May 20 sale May 22 purchase May 24 purchase May 25 sale Quantity Price 5,000 3.50 4,000 3.80 6,000 6.25 2,000 6.25 4,000 3.50 2,000 3.80 6,000 6.25 Calculate the ending inventory balance for Crane Corporation, assuming the company uses a perpetual inventory system and the first-in, first-out (FIFO) cost formula. (Round answer to 0 decimal places, e.g 5,275.) Ending inventory