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Financial Accounting

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Inventory Valuation: Ending Inventory LIFO

FINACT-1SN0BB

E&T Enterprises reported the following transactions:

Date Transaction Quantity Total
June 30 Ending Inventory (7.50 X 200 units) 200 \$ 1,500
July 5 Purchase (10 X 500 units) 500 \$5,000
July 10 Sale (15 X 350 units) 350 \$4,500
July 20 Sale (15 X 300 units) 300 \$ 5,250
July 30 Purchase ( 8.50X200 units) 200 \$ 1,700
July 31 Sale ( 8.50 X 150 units) 150 \$425

If the LIFO cost flow assumption is used in a perpetual system, what is the amount reported as ending inventory on the July Balance Sheet?