The following lots of Commodity Z were available for sale during the year. Beginning inventory First purchase Second purchase Third purchase 9 units at $48 15 units at $53 55 units at $56 17 units at $65 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 ending inventory balance at the end of the year according to the LIFO method? O a. $5,412 Ob. $1,385 Oc. $1,121 Od. $1,056 The inventory data for an item for November are: Nov. Inventory 19 units at $25 4 10 17 30 Sold Purchased Sold Purchased 8 units 35 units at $21 15 units 23 units at $22 Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? O a. $559 Ob. $515 O c. $790 Od. $1,157 The inventory data for an item for November are: Nov. 1 Inventory 4 Sold 10 Purchased 17 Sold 30 Purchased 20 units at $19 10 units 30 units at $20 20 units 10 units at $21 Using a perpetual system, what is the cost of the goods sold for November if the company uses FIFO? O a. $590 Ob. $610 Oc. $600 Od. $580