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The following information was available from the inventory records of Vaughn Manufacturing for January: Units Unit Cost Total Cost Balance at January 1 10000 $9.75

The following information was available from the inventory records of Vaughn Manufacturing for January:

Units Unit Cost Total Cost
Balance at January 1 10000 $9.75 $97500
Purchases:
January 6 5000 10.10 50500
January 26 7000 10.60 74200
Sales
January 7 (7000)
January 31 (12000 )
Balance at January 31 3000

Assuming that Vaughn does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar?

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