(Answered) During the past year franklin industries sold 562

Accounting

During the past year, Franklin Industries sold 562 calculators. Inventory records for the year are as follows:

DATE		QUANTITY	COST	TOTAL
January 1	Beginning Inventory	150	$11.50	$1,725
August 23	Purchase	350	12.50	4,375
October 18	Purchase	250	10.50	2,625
November 19	Purchase	326	12.50	4,075
December 1	Purchase	450	8.50	3,825
Total available for sale		1,526	$16,625

Using the FIFO method of inventory pricing, calculate the dollar value of the ending inventory.

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