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A record of transactions for the month of May was as follows: May May Purchases 1 (balance) 450 @ $5.00 1,340 @ $4.90 8 840

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A record of transactions for the month of May was as follows: May May Purchases 1 (balance) 450 @ $5.00 1,340 @ $4.90 8 840 @ $5.10 14 740 @ $5.20 22 1,260 @ $5.30 600 @ $5.35 Sales 3 225 @ $7.00 6 1,070 @ 7.00 12 940 @ 7.50 18 440 @ 7.50 25 1,400 @ 8.00 29 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO. Ending inventory $ $

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