Inventory records for Herb's Chemicals revealed the following: March 1, 2016, inventory: 1,000 gallons @ $7.20 = $7,200 Purchases: Mar. 10 Mar. 16 Mar. 23 600 gals @ $7.25 800 gals @ $7.30 600 gals @ $7.35 Sales: Mar. 5 Mar. 14 Mar. 20 Mar. 26 400 gals 700 gals 500 gals 700 gals The ending inventory under a periodic inventory system assuming average cost (rounding unit cost to three decimal places) is: Multiple Choice $5,077. 0 $5,107. 1 $5,077. $5,107. $5,087. $5,005