Purchases $32,000 5,700 Inventory, September 1 Selling expense Inventory, September 30 sales Interest expense Administrative expense 910 1,200 Rent revenue 1.040 $28,760 $31,670 $29,960 $29,800 The following units of an inventory item were available for sale during the year. Use this information to answ Beginning inventory First purchase Second purchase Third purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory rounded to nearest dollar using average cost is: O $1,150 O$1,375 O $1,353 O $1,263 Purchases $32,000 5,700 Inventory, September 1 Selling expense Inventory, September 30 sales Interest expense Administrative expense 910 1,200 Rent revenue 1.040 $28,760 $31,670 $29,960 $29,800 The following units of an inventory item were available for sale during the year. Use this information to answ Beginning inventory First purchase Second purchase Third purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory rounded to nearest dollar using average cost is: O $1,150 O$1,375 O $1,353 O $1,263