nventory records for Herb's Chemicals revealed the following: March 1, 2016, inventory: 1,000 gallons @ $7.20 = $7,200

Purchases:		Sales:
Mar. 10	600 gals @ $7.25	Mar. 5	400 gals
Mar. 16	800 gals @ $7.30	Mar. 14	700 gals
Mar. 23	600 gals @ $7.35	Mar. 20	500 gals
		Mar. 26	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.

• $5,087.

• $5,005.

• $5,107.