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Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: Date Transaction Number of Units Cost

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date Transaction Number of Units Cost per Unit
1/1 Beginning Inventory 260 $ 960
5/5 Purchase 360 $ 1,060
8/10 Purchase 460 $ 1,160
10/15 Purchase 280 $ 1,210

During the year, Lauer sold 1,150 laptop computers. What was ending inventory using the FIFO cost flow assumption?

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