The following units of an inventory item were available for sale during the year Beginning inventory First purchase Second purchase Third purchase 10 units at S50 25 units at $55 30 units at $60 15 units at $65 The firm uses the periodic inventory system. sold. During the year, 60 units of the item were 47. The value of ending inventory using FIFO is: a. $1,250 b. $1,150 c. $1,275 d. $1,050 48.The value of ending inventory using LIFO is: a. $1,250 b. $1,150 c. $1,275 d. $1,050 49. The value of ending inventory using average cost is: a. $1.252 b. $1,163 c. $1.275 d. $1,050