Question Content Area The following lots of a particular commodity were available for sale during the year Beginning inventory 10 units at $52.00 First purchase 16 units at $50.00 Second purchase 53 units at $56.00 Third purchase 14 units at $64.00 The firm uses the periodic system, and there are 24 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the LIFO method? Select the correct answer. $1,456.00 $1,248.00 $1,220.00 $5,184.00