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The following units of an inventory item were available for sale during the year: Beginning inventory 12 units at $47 First purchase 15 units at

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The following units of an inventory item were available for sale during the year: Beginning inventory 12 units at $47 First purchase 15 units at $51 Second purchase 25 units at $56 Third purchase 19 units at $64 The firm uses the periodic inventory system. During the year, 53 units of the item were sold. The value of ending inventory using LIFO is ca. $1,152 b. $1,434 c. $870 d. $564

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