The inventory records for Duck 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 31 500 units @ $2.60 600 units @ $2.80 800 units @ $2.90 400 units @ $3.00 1,900 units @ $4.50 What is the amount of ending inventory assuming the FIFO cost flow method is used? Multiple Choice $1,300 $1,200 $1,490 $1,220