Use the following information for the month of May: May 1 Beginning inventory 7 Sales 18 Purchases 22 Purchases 29 Sales 20 units @ $19 10 units 25 units @ $20 40 units @ $22 35 units son Assuming that a perpetual inventory system is used, what is ending inventory on a LIFO basis? Select one: O a $850 O b. $830 Oc. $880 O d. $800 Oe. $780