March 1 inventory - 1,000 gallons @ $7.20 = $7,200 Purchases: Sales: Mar. 10 600 gals @ $7.25 Mar.5 400 gals Mar. 16 Mar. 14 700 gals 800 gals @ $7.30 600 gals @ $7.35 Mar. 23 Mar. 20 500 gals Mar. 26 700 gals The ending inventory assuming LIFO in a perpetual inventory system would be: O $4,960. O $5,140. O $5,060. O $5,080