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Question - A company had the following purchases and sales during its first year of operations:
Purchases Sales
January: 10 units at $1206 units
February: 20 units at $1255 units
May: 15 units at $1309 units
September: 12 units at $1358 units
November: 10 units at $14013 units
On December 31, there were 26 units remaining in ending inventory. Using the Perpetual LIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
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