Question 14 (5 points) ABC Manufacturing has 100 units of material K at $1.20 per unit at 1 May. During the month of May, the following transactions took place: 11 May 18 May 24 May 29 May Receipt Issue Issue Receipt 420 units @ $1.40 per unit 260 units 210 units 350 units @ $1.50 per unit What is the value of inventory at 31 March using LIFO method? 1) $540 2) $585 3) $595 4) $600