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A record of transactions for the month of May was as follows: Purchases Sales May 1...

A record of transactions for the month of May was as follows:

Purchases Sales
May 1 (balance) 400 @ $5.50 May 3 200 @ $7.00
4 1,330 @ $5.40 6 1,100 @ 7.00
8 820 @ $5.60 12 920 @ 7.50
14 720 @ $5.70 18 430 @ 7.50
22 1,250 @ $5.80 25 1,400 @ 8.00
29 550 @ $5.70


Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO.

Ending inventory $
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