Attempt in Progress Your answer is incorrect. The following inventory transactions took place for Cullumber Corporation for the month of May: Date May 1 May 5 May 10 May 15 May 20 May 22 May 24 May 25 Event beginning inventory purchase purchase sale sale purchase purchase sale Quantity 2,070 4,950 3,980 6,040 1,990 4,100 2,000 6,010 Cost/ Selling Price $3.40 3.60 3.70 6.40 6.40 3.90 3.90 6.40 Calculate the ending inventory balance for Cullumber Corporation, assuming the company uses a perpetual inventory system and the first-in, first-out (FIFO) cost formula. $ Ending inventory eTextbook and Media Save for Later Last saved 1 second ago. Attempts: 2 of 3 used Submit Answer Saved work will be auto-submitted on the due date