Gumby Corp uses the periodic inventory system. During its first year of operation, Gumby made the following purchases (listed in chronological order of acquisition) 160 units at $50 280 units at $40 680 units at $30 Sales for the year totaled 1,070, leaving 50 units on hand at year end. Ending inventory using the FIFO method is: A) $1,100 B) $2,000 C) $1,414 D) $1,500