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A record of transactions for the month of May was as follows: May Purchases May 1 (balance) 440 @ $5.20 1,320 @ $5.10 825 @

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A record of transactions for the month of May was as follows: May Purchases May 1 (balance) 440 @ $5.20 1,320 @ $5.10 825 @ $5.30 725 @ $5.40 1,250 @ $5.50 580 @ $5.55 Sales 3 220 @ $7.00 6 1,000 @ 7.00 12 925 @ 7.50 18 470 @ 7.50 25 1,430 @ 8.00 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO. Ending inventory $

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