The following lots of Commodity Z were available for sale during the Beginning inventory 10 units at $47 First purchase 15 units at $50 Second purchase 53 units at $55 Third purchase 17 units at $65 year. The firm uses the periodic inventory system, and there are 23 units of the commodity on hand at the end of the year. What is the ending inventory balance of Commodity Z using LIFO? Oa. $5,240 Ob. $1,081 Oc. $1,120 Od. $1,435