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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,350 gallons @ $7.90 per gallon = $10,665 Purchases: Mar. 10 Mar. 16

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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,350 gallons @ $7.90 per gallon = $10,665 Purchases: Mar. 10 Mar. 16 Mar. 23 670 gals @ $7.95 872 gals @ $8.00 67e gals @ $8.05 Sales: Mar. 5 Mar. 14 Mar. 20 Mar. 26 478 gals 770 gals 570 gals 770 gals Ending Inventory assuming LIFO in a periodic inventory system would be: Multiple Choice $7742 $7,757

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