The following units of an inventory item were available for sale during the year. Use this information to answer the following question.

Beginning inventory		10 units at $55
First purchase		25 units at $60
Second purchase		30 units at $65
Third purchase		15 units at $70

The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory using LIFO is

a. $1,350

b. $1,375

c. $1,250

d. $1,150