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The Crane Shop shows the following data related to an item of inventory: Inventory, January 1...

The Crane Shop shows the following data related to an item of inventory:
Inventory, January 1 280 units @ $6.00
Purchase, January 9 940 units @ $6.50
Purchase, January 19 230 units @ $7.00
Inventory, January 31 280 units

(a)

What value should be assigned to the ending inventory using FIFO?
Value assigned to the ending inventory
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