Mosher, Inc. had the following balances and transactions during 2017:
Beginning Merchandise Inventory as of January 1, 2017 | 400 units at $80 |
March 10 | Sold 80 units |
June 10 | Purchased 800 units at $85 |
October 30 | Sold 480 units |
What would be reported for Ending Merchandise Inventory on the balance sheet at December 31, 2017 if the perpetual inventory system and the first-in, first-out inventory costing method are used?
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