Fulbright Corporation uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases $($listed in chronological order of acquisition$)$:

$40$ units at $$103$ per unit

$74$ units at $$77$ per unit

$172$ units at $$70$ per unit

Sales for the year totaled $270$ units, leaving $16$ units on hand at the end of the year.

Ending inventory using the LIFO method is:

Multiple Choice

$$1,223$

$$1,648$

$$1120$