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Inventory records for Herb's Chemicals revealed the following: March 1, 2013, inventory: 1,000 gallons @ $7.20 = $7,200 Purchases Mar 10 Near 16 Mar 25

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Inventory records for Herb's Chemicals revealed the following: March 1, 2013, inventory: 1,000 gallons @ $7.20 = $7,200 Purchases Mar 10 Near 16 Mar 25 600 gals @ $725 800 gals @ $7.20 600 gals a $735 Sales Nlar 5 Nlar 14 Nlar 20 Nano 400 gals 700 gals 500 gals 700 gals Ending inventory assuming LIFO in a periodic inventory system would be: O $5,040. $5,055. $5,075. $5,135

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