Moroni Industries has the following inventory information. July 1 5 14 21 30 Beginning Inventory Purchases Sale Purchases Sale 10 units at $120 60 units at $112 40 units 30 units at $115 35 units Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis? 1) $2,875 2) $2,880 3) $8,490 4) $8,495