QUESTION 32 Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,000 gallons @ $7.20 per gallon = $7,200 400 gals 700 gals 500 gals 700 gals hs Purchases: Sales: Mar. 10 600 gals @ $ 7.25 Mar. 5 Mar. 16 800 gals @ $ 7.30 Mar. 14 Mar. 23 600 gals @ $ 7.35 Mar. 20 Mar. 26 Ending inventory assuming LIFO in a periodic inventory system would be $5,055 $5,040. $5,135 $5,075