The inventory records for Dallas Company reflected the following Beginning inventory on May 1 First purchase on May 7 Second purchase on May 17 Third purchase on May 23 Sale on May 31 1,500 units @ $4.60 1,600 units @ $4.80 1,800 units @ $4.90 1,400 units @ $5.00 4,900 units @ $6.50 What is the amount of ending inventory assuming the FIFO cost flow method is used? Multiple Choice O $7,490 $6,900 O o $7,000 O $7,020