32. A record of transactions for the month of May was as follows: Purchases Sales $4.20 May May 1 (balance) 400 200 @ $7.00 3 1,300 @ $4.10 4 1,000 6 7.00 800 @$4.30 8 900 @ 7.50 12 700 @ $4.40 14 400 @ 7.50 18 1,200 @ $4.50 25 22 1,400 @ 8.00 29 500 @ $4.55 Assuming that perpetual inventory records are kept in dollars, the ending inventory using LIFO is: 0 $4,375 $4,345 $4,875 O $4,735