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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,250 gallons a $7.70 per gallon = $9,625 Purchases: Mar. 10 Mar. 16

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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,250 gallons a $7.70 per gallon = $9,625 Purchases: Mar. 10 Mar. 16 Mar. 23 650 gals @ $7.75 850 gals @ $7.80 650 gals @ $7.85 Sales: Mar. 5 Mar. 14 Mar. 20 Mar. 26 450 gals 750 gals 550 gals 750 gals Ending Inventory assuming LIFO in a periodic inventory system would be: Multiple Choice $6,930 $6,975 $7,035 $6,945

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