Question: Gigo Co. had the following balances and transactions during 2016.
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Beginning merchandise inventory
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10 units at $95
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Mar-10
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Sold 8 units
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Jun-10
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Purchased 20 units at $92
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Oct-30
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Sold 15 units
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Required: What is the amount of the company's Merchandise Inventory, as disclosed in the December 31, 2016 balance sheet as per the periodic weighted-average costing method?
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