2. Determine the ending inventory cost using FIFO.

The units of an item available for sale during the year were as follows: Jan. 1 Inventury 25 units at $45 Mar. 4 Purchase is units at $50 June 7 Purchase 35 units at $58 Nov. 15 Purchase 20 units at $65There are 30 units of the item In the physical inventory at December 31. The periodic inventory system is used.Determine the ending inventory cost using FIFO