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

The Sandhill Shop shows the following data related to an item of inventory:

Inventory, January 1 310 units @ $4.00
Purchase, January 9 910 units @ $4.50
Purchase, January 19 210 units @ $5.00
Inventory, January 31 310 units

(a)

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

Value assigned to the ending inventory $
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