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The following units of a particular item were available for sale during the year: Beginning inventory Sale First purchase Sale Second purchase Sale 150 units

The following units of a particular item were available for sale during the year: Beginning inventory Sale First purchase Sale Second purchase Sale 150 units @ $755 120 units 400 units @ $785 200 units 300 units @ $805 290 units The firm uses the perpetual inventory system and there are 240 units of the item on hand at the end of the year. What is the total cost of ending inventory according to LIFO? S

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