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Twinkey Key Company buys and sells key blanks. It purchased 6 keys @ $1 per unit, it then purchased 8 keys @ $3 per unit,
Twinkey Key Company buys and sells key blanks. It purchased 6 keys @ $1 per unit, it then purchased 8 keys @ $3 per unit, it then sold 4 keys and finally purchased another 8 @ $6 per unit. Assuming the Twinkey Key Company uses a perpetually updated inventory system and a moving weighted average cost flow assumption to expense its keys upon sale, what is its Ending Inventory balance at the end of the noted period after all purchases and sales have been properly recorded?
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