Melbourne Company uses the perpetual inventory method. Melbourne purchased 1,200 units of inventory that cost $7.25 each. At a later date the company purchased an additional 1,300 units of inventory that cost $7.75 each. If Melbourne uses a LIFO cost flow method, and sells 1,500 units of inventory, the amount of ending inventory appearing on the balance sheet will be: Multiple Choice $11,525. $7,250. $7,500. $7,750.