View Policies Current Attempt in Progress The following inventory transactions took place for Sunland Corporation for the month of May: Date Event May 1 beginning inventory May 5 purchase May 10 purchase May 15 sale May 20 sale May 22 purchase May 24 purchase May 25 sale Cost/ Selling Quantity Price 2,080 $3.20 5,020 3.40 4,080 3.50 5,960 6.40 2,160 6.40 3,840 3.70 1,840 3.70 5,840 6.40 Calculate the ending inventory balance for Sunland Corporation, assuming the company uses a perpet first-in, first-out (FIFO) cost formula. Ending inventory