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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,050 gallons @ $7.3 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 @ $7.3 per gallon = $7,665 Purchases: Mar. 10 Mar. 16 Mar. 23 610 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 Ending inventory assuming LIFO in a perpetual inventory system would be: Multiple Choice X $5,322 $5,422. O $5,442 O $5,502

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