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Calculate the ending inventory balance using the following information under the FIFO method of inventory: Beginning Inventory 1 2 / 1 2 , 5 0

Calculate the ending inventory balance using the following information under the FIFO method of inventory:
Beginning Inventory 12/12,500 units at $20 per unit
Purchased 12/103,000 units at $25 per unit
Purchased 12/15 $2,500 units at $30 per unit
Sold 12/25 $4,000 units for $50 each

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