Inventory records for Herb's Chemicals revealed the following: March 1, 2016, inventory: 1,000 gallons @ $7.20 = $7,200

Purchases:		Sales:
Mar. 10	600 gals @ $7.25	Mar. 5	400 gals
Mar. 16	800 gals @ $7.30	Mar. 14	700 gals
Mar. 23	600 gals @ $7.35	Mar. 20	500 gals
		Mar. 26	700 gals

Ending inventory assuming LIFO in a perpetual inventory system would be:

Multiple Choice

• $5,140.

• $4,960.

• $5,060.

• $5,080.