The Bergman Company sells 3 different products. Five years ago, management adopted the LIFO inventory method and established 3 specific pools of goods. Bergman values all incremental layers of inventory at the average cost of purchases within the period.

Information relating to the 3 products for the first quarter of 2002 is given below.

Instructions: 

Compute the ending inventory value for the first quarter of 2002.
(Round unit inventory values to the nearest cent and final inventory values to the nearest dollar.)

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Purchases: January February March First quarter sales (units) Product 400 Product 401 Product 402 1,000 @ $12.00 1,500 @ $12.50 1,200 $12.25 500 @ $25 250 @ $26 5,000 @ $5.30 4,850 @ $5.38 - 2,850 775 3,500 @ $5.45 10,750 155 @ $24 3,760 @ $5.00 January 1, 2002, inventory 950 @ $11.50