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Neighborly Industries has the following inventory information. July 1 Beginning Inventory 30 units at $60 5 Purchases 180 units at $56 14 Sale 120 units

Neighborly Industries has the following inventory information.

July 1 Beginning Inventory 30 units at $60

5 Purchases 180 units at $56

14 Sale 120 units

21 Purchases 90 units at $57.50

30 Sale 84 units

Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a FIFO basis?

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