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RJ Corporation has provided the following information about one of its inventory items:
Date Transaction Number of Units Cost per Unit
1/1 Beginning Inventory 400 $3,200 6/6 Purchase 800 $3,600
9/10 Purchase 1,200 $4,000
11/15 Purchase 800 $4,200
During the year, RJ sold 3,000 units. What was ending inventory using the average cost flow assumption under a periodic inventory system?
$840,000
$770,000
$640,000
$880,000
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