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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,050 gallons @ $7.30 per gallon = $7,665 Purchases: Mar. 10 Mar. 16

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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,050 gallons @ $7.30 per gallon = $7,665 Purchases: Mar. 10 Mar. 16 610 gals @ $7.35 810 gals @ $7.40 610 gals @ $7.45 Sales: Mar. 5 Mar. 14 Mar. 20 Mar. 26 410 gals 710 gals 510 gals 710 gals Mar. 23 The ending inventory assuming FIFO is: Multiple Choice $5,507. $5,447 0 $5,427. $5,417

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