Smith holds a single item in its inventory. The transactions for the month of June were: Sales Purchases June 1 (balance) 1,200 @ $3.20 June 2 900 @ $5.50 3 3,300 @ 3.10 6 2,400 @ 5.50 7 1,800 @ 3.30 9 1,500 @ 5.50 15 2,700 @ 3.40 10 600 @ 6.00 22 750 @ 3.50 18 2,100 @ 6.00 25 300 @ 6.00 Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is $6.165. $6,240. $6,435. $6,705