The following lots of a particular commodity were available for sale during the year: Beginning inventory 5 units at dollar 61 First purchase 15 units at dollar 63 Second purchase 10 units at dollar 74 Third purchase 10 units at dollar 77 The firm uses the periodic system and there are 20 units the commodity on hand at the end of the year. What is the amount of cost of goods sold for the year according to the FIFO method? dollar 1, 510 dollar 1, 380 dollar 1, 375 dollar 1, 250