A firm has the following transactions with its product R for the year to December 31, 2021:
1 January 2021: Opening inventory valuation: Nil
1 February 2021: Buys 15 units at $3000 per unit
11 February 2021: Buys 12 units at $2500 per unit
1 April 2021: Sells 10 units at $4000 per unit
1 August 2021: Buys 6 units at a total cost of $30,000
1 December 2021: Sells 12 units and received total revenue of $100,000
31 December 2021: Closing inventory valuation: $27,000
Other information for the year:
Cost of transporting inventory purchased from supplier: $3200
Depreciation expense for the year on non-current assets: $4200
General administrative expenses: $33,100
Investment income from securities: $9000
Selling and distribution expenses: $6700
Finance cost/Interest expense: $2200
Non-current assets cost at end of period: $60,000
4.4% loan: $50,000
Calculate the total amount spent for the purchase of inventory for the year.