Industries has the following inventory information for 20 20: January 1 Beginning inventory 40 units at $ 1 2 0 per unit June 15 Purchases 240 units at $ 1 1 2 per unit November 20 Purchases 120 units at $ 115 per unit sold 3 2 5 units during 2 0 20. Assuming a periodic inventory system is used, what is the value of ending inventory on December 3 1 on a LIFO basis? $36, 760 $ 45, 920 $ 8, 720 $ 8,6 25