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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,800 gallons @ $8.80 per gallon = $15,840 Purchases: Mar. 10 Mar. 16

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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,800 gallons @ $8.80 per gallon = $15,840 Purchases: Mar. 10 Mar. 16 Mar. 23 760 gals @ $8.85 960 gals @ $8.90 760 gals @ $8.95 Sales: Mar. 5 560 gals Mar. 14 860 gals Mar. 20 660 gals Mar. 26 860 gals Ending inventory assuming LIFO in a periodic inventory system would be: Multiple Choice $11,792 $11.807 Multiple Choice $11.792 $11,807 $11,919. $11,859

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