The following lots of a particular commodity were available for sale during the year Beginning Inventory 12 units at $51.00 First purchase 15 units at $54.00 Second purchase 54 units at $56.00 Third purchase 14 units at $63.00 The firm uses the periodic system, and there are 25 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 55,828.00 $1,498.00 $1,275.00 51,314.00