The following units of an inventory item were available for sale during the year: Beginning inventory First purchase Second purchase Third purchase 8 units at $50 19 units at $54 20 units at $56 17 units at $59 The firm uses the periodic inventory system. During the year, 40 units of the item were sold. The value of ending inventory using FIFO IS Oa. $2,421 Ob. $1,395 Oc. $1,116 Od. $1.795