Salisbury Company uses the perpetual inventory system

Adelphi Company purchased a machine on January 1, 2017, for $90,000
May 5, 2020
Arundel Company uses percentage of sales to estimate uncollectibles
May 5, 2020

Salisbury Company uses the perpetual inventory system and had the

following inventory & sales activity for the month of May 2019:

5/1 Beginning Inventory 175 $10.50
5/5 Purchase 200 $12.00
5/10 Sales 300 $25
5/15 Purchase 200 $13.50
5/20 Sales 250 $28
5/25 Purchase 150 13.50
Using the LIFO method, determine the dollar value for Ending Inventory at the end of month of May. Round to the nearest cent.

 
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