The following lots of a particular commodity were available for sale during the year Beginning inventory 8 units at $51.00 First purchase 16 units at $54.00 Second purchase 52 units at $55.00 Third purchase 16 units at $64.00 The firm uses the periodic system, and there are 22 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. O$1,164.00 O$1,354.00 $5,156.00 O$1,122.00