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A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $45 on October 1, 18 pairs at $40 on

A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $45 on October 1, 18 pairs at $40 on October 8, and 20 pairs at $50 on October 15. An inventory taken last week indicates that 23 pairs are still in stock. Calculate the cost of this inventory by FIFO.

Cost of ending inventory:

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