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Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 365 qts. $3.70 per quart on April 1 Purchases:

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Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 365 qts. $3.70 per quart on April 1 Purchases: Apr. 10 Apr. 14 Apr. 20 565 qts @ $3.80 465 qts @ $3.90 465 qts @ $3.95 Sales: Apr. 3 Apr. 12 Apr. 26 330 qts 565 qts 365 qts The ending inventory assuming LIFO and a periodic inventory system is: (Round your final answer to two decimal places.) Multiple Choice $2,353.50 $2,283.50 $2,243.50 $2,348.50

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