On January 3, Piano Company purchased three electronic pianos, model EBS, for $1,000 each. On January 20, it purchased two additional model EBS electronic pianos for $1,200 each. On January 25, it sold two pianos; one that had been purchased on January 3, and one that had been purchased on January 20. Calculate the cost of goods sold for the month and ending inventory on January 31 using specific identification.