ABC Company just started business in August. They made the following purchases during August: August 01 300 units $1,560 total cost August 12 400 units 2,340 total cost August 24 400 units 2,520 total cost August 30 300 units 1,980 total cost A physical count on August 31 reveals that there are 500 units on hand. What is the value of ending inventory, using a FIFO?
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