Problem: The following inventory was available for sale during the year for Dolphin Tools:
Beginning inventory10 units at $120First purchase15 units at $165Second purchase30 units at $210Third purchase20 units at $195.
Dolphin Tools has 25 units on hand at the end of the year.
What is the dollar amount of inventory at the end of the year according to the first-in, first-out method?
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