Records for Einstein Chemicals revealed the following. Einstein uses a perpetual inventory system and LIFO as its inventory costing method. What is ending inventory on December 31, 2021? January 1, 2021, beginning inventory: 1,000 gallons ($7.20 per gallon) = $7,200 Purchases: March 10, 2020 October 15, 2020 Gallons 500 600 Cost per Gallon $7.25 $7.35 Sales: February 5, 2020 September 20, 2020 Gallons 400 700 $7,200 $7,945 $7,290 $7,310