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A record of transactions for the month of May was as follows: May Purchases May 1 (balance) 470 @ $5.40 1,330 @ $5.30 840 @

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A record of transactions for the month of May was as follows: May Purchases May 1 (balance) 470 @ $5.40 1,330 @ $5.30 840 @ $5.50 740 @ $5.60 1,290 @ $5.70 550 @ $5.80 too Sales 3 235 @ $7.00 6 1,020 @ 7.00 12 940 @ 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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