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A company purchased 200 units for $20 each on January 31. It purchased 400 units for $40 each on February 28. It sold a total

A company purchased 200 units for $20 each on January 31. It purchased 400 units for $40 each on February 28. It sold a total of 450 units for $110 each from March 1 through December 31. If the company uses the lastin, firstout inventory costingmethod, calculate the cost of ending inventory on December 31.(Assume that the company uses a perpetual inventorysystem.

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