The following lots of Commodity Z were available for sale during the year.

Beginning inventory8 units at $51 First purchase17 units at $53 Second purchase20 units at $58 Third purchase19 units at $60 The firm uses the periodic system, and there are 23 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 FIFO method?

a. $1,372

b. $1,173

c. $3,586

d. $3,609