Content Area The following lots of Commodity Z were available for sale during the year. Line Item Description Units and Cost Beginning inventory 10 units at $52 First purchase 16 units at $51 Second purchase 21 units at $24 Third purchase 18 units at $62 The firm uses the periodic inventory system, and there are 23 units of the commodity on hand at the end of the year. What is the ending inventory balance of Commodity Z using the weighted average cost method? Do not round intermediate calculations. Round your answer to the nearest whole dollar. a. $1,046 b. $1,196 c. $1,183 d. $1,236