The following units of an inventory item were available for sale during the year: 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 FIFO inventory system. During the year, 60 units of the item were sold. What is the amount of ending inventory. $1,250 $1,350 $1,375 1,150