Star Enterprises sells its product for $20.42 per unit and uses the FIFO, perpetual method for tracking inventory costs. The following sequence of events has occurred during the month of May. Date Event May 1 Beginning Inventory: 120 units @ $12.93/unit May 3 Purchase 75 units @ $10.03/unit May 7 Sell 55 units May 11 Purchase 45 units @ $12.2/unit May 17 Sell 145 units May 23 Purchase 90 units @ $11.21/unit (round all calculations to the hundredths place; enter your answer rounded to the hundredths place) What is the total value of inventory on May 12? Answer