The following lots of Commodity Z were available for sale during the year. Beginning inventory 7 units at $47 First purchase 17 units at $51 Second purchase 54 units at $59 Third purchase 15 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? Oa. $5,357 Ob. $1,034 Oc. $1,388 Od. $1,094