(Solved) : Loblaw Corporation Began Operations December 1 2016 Inventory Transaction 2016 Purchase In Q32456821 . . . .

Loblaw Corporation began operations on December 1, 2016. Theonly inventory transaction in 2016 was the purchase of inventory onDecember 10, 2016, at a cost of $23 per unit. None of thisinventory was sold in 2016. Relevant information for fiscal 2017 isas follows:

Ending inventory units:

December 31,2016130December 31, 2017,by purchase date—Dec. 2, 2017130—July 20, 201730160

During 2017, the following purchases and sales were made:

PurchasesSalesMar.15380 units at $24Apr.10210July20380 units at $28Aug.20310Sept.4270 units at $30Nov.18160Dec.2130 units at $31Dec.12450

The company uses the periodic inventory method.

Ending inventory under specific identification is$4870.

Determine ending inventory under FIFO.​ $___________.

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