View Policies Current Attempt in Progress A record of transactions for the month of May was as follows: May 1 (balance)

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View Policies Current Attempt In Progress A Record Of Transactions For The Month Of May Was As Follows May 1 Balance 1 (26.46 KiB) Viewed 14 times

View Policies Current Attempt in Progress A record of transactions for the month of May was as follows: May 1 (balance) 4 8 14 22 Purchases 29 400@ $5.00 1,300@ $4.90 800@ $5.10 Ending inventory 700 @ $5.20 1,200@ $5.30 500 @ $5.35 May Sales 3 200@ $7.00 6 12 18 1,000@ 900 @ 400 @ 25 1,400@ 7.00 7.50 7.50 8.00 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO.