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A record of transactions for the month of May was as follows: May May Purchases 1 (balance) 500 @ $5.20 4 1,380 @ $5.10 8

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A record of transactions for the month of May was as follows: May May Purchases 1 (balance) 500 @ $5.20 4 1,380 @ $5.10 8 810 @ $5.30 14 710 @ $5.40 22 1,320 @ $5.50 29 540 @ $5.75 Sales 3 250 @ $8.00 6 1,070 @ 8.00 12 910 @ 8.50 18 500 @ 8.50 25 1,470 @ 9.00 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO. Ending inventory $

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