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A record of transactions for the month of May was as follows: Purchases . 7 Sales May 1 (balance) 430 @ $5.40 May 3 215

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A record of transactions for the month of May was as follows: Purchases . 7 Sales May 1 (balance) 430 @ $5.40 May 3 215 @ $7.00 1,300@ $5.30. 6'" 1,030@ 7.00' 8 880 @ $5.50 12 980 @ 7.50 14 780 @ $5.60 18 430 @ 7.50 22 1,260 @ $5.70 25 1,430 @ 8.00 29 600 @ $5.75 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO. ,Wwwl a Ending inventory $

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