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A company purchased 10 units for $5 on January 3. It purchased 10 units for $7 each on February 28. It sold 10 units on

A company purchased 10 units for $5 on January 3. It purchased 10 units for $7 each on February 28. It sold 10 units on March 1. If the company uses the weighted-average inventory costing method, what is the dollar amount for ending inventory on the December 31 balance sheet, assuming that the company uses a perpetual inventory system?

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