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By creating a calculated field similar to the following and placing it on the label shelf, the bar chart will give you the desired outcome, while the Tooltip will give the value of the Sales:
if sum(Sales)>50000 then '5K'
elseif sum(Sales)>4000 then '4K'
elseif sum(Sales)>3000 then '3K'
elseif sum(Sales)>2000 then '2K'
elseif sum(Sales)>1000 then '1K'
Hope this helps!