Novak has the following inventory data:

July 1		Beginning inventory		37 units at $7.30
5		Purchases		146 units at $8.10
14		Sale		98 units
21		Purchases		73 units at $8.80
30		Sale		68 units

Assuming that a perpetual inventory system is used, what is the value of ending inventory on a LIFO basis for July?

$1392.20

$2095.10

$1041.30

$702.90

Novak has the following inventory data: July 1 5 14 Beginning inventory Purchases Sale Purchases Sale 37 units at $7.30 146 units at $8.10 98 units 73 units at $8.80 68 units 21 30 Assuming that a perpetual inventory system is used, what is the value of ending inventory on a LIFO basis for July? $1392.20 $2095.10 $1041.30 $702.90