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14. At a lump-sum cost of $69,000, Milan Company recently purchased the following items for resale: Item No. of Items Purchased Resale Price Per Unit

14. At a lump-sum cost of $69,000, Milan Company recently purchased the following items for resale: Item No. of Items Purchased Resale Price Per Unit M 4,000 $3.75 N 2,000 12.00 O 6,000 6.00 What is the approximate cost of each inventory item?

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