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Sheffield Industries has the following inventory information. July 1 Beginning Inventory 30 units at $120 5 Purchases 240 units at $115 180 units 14 Sale

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Sheffield Industries has the following inventory information. July 1 Beginning Inventory 30 units at $120 5 Purchases 240 units at $115 180 units 14 Sale 21 Purchases 100 units at $115 30 Sale 160 units Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis? $3600 $26060 $3450 O $26040

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