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A company had the following purchases and sales during its first year of operations: Purchases Sales January: 14 units at $140 10 units February: 24

A company had the following purchases and sales during its first year of operations: Purchases Sales January: 14 units at $140 10 units February: 24 units at $145 7 units May: 19 units at $150 11 units September: 16 units at $155 10 units November: 14 units at $160 16 units On December 31, there were 33 units remaining in ending inventory.

Purchases Sales
January: 14 units at $140 10 units
February: 24 units at $145 7 units
May: 19 units at $150 11 units
September: 16 units at $155 10 units
November: 14 units at $160 16 units

Using the Perpetual LIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

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