1. Question Content Area

   The following units of an inventory item were available for sale during the year:

   Beginning inventory	9 units at $49
   First purchase	15 units at $51
   Second purchase	28 units at $59
   Third purchase	14 units at $59

   The firm uses the periodic inventory system. During the year, 46 units of the item were sold.

   The value of ending inventory using FIFO is

   a.$944

   b.$1,945

   c.$1,180

   d.$1,621