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Sheridan Industries has the following inventory information. July 1 Beginning Inventory 40 units at $110 260 units at 5 Purchases $112 14 Sale 180

Sheridan Industries has the following inventory information. July 1 Beginning Inventory 40 units at $110 260 units at 5 Purchases $112 14 Sale 180 units 21 Purchases 90 units at $110 30 Sale 150 units Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis? $29100 $29080 $6600 $6640

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