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On December 31 of last year, Wolfson Corporation had in inventory 580 units of its product, which cost $20 per unit to produce. During January,

On December 31 of last year, Wolfson Corporation had in inventory 580 units of its product, which cost $20 per unit to produce. During January, the company produced 980 units at a cost of $25 per unit.

Assuming that Wolfson Corporation sold 1,060 units in January, what was the cost of goods sold? (Assume FIFO inventory accounting.)

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