View Policies Current Attempt in Progress Sheridan has the following inventory data: July 1 5 Beginning inventory Purchases Sale 14 25 units at $5.00 101 units at $5.50 67 units 50 units at $6.00 47 units 21 Purchases 30 Sale Assuming that a perpetual inventory system is used, what is the value of ending inventory on a LIFO basis for July? O $330.00 $650.50 O $497.00 O $980.50 Attempts: 0 of 1 used Submit Answer Save for Later