The following units of an inventory item were available for sale during the year:

Beginning inventory	12 units at $50
First purchase	19 units at $54
Second purchase	26 units at $55
Third purchase	13 units at $57

The firm uses the periodic inventory system. During the year, 48 units of the item were sold.

The value of ending inventory using LIFO is

a.$1,740

b.$600

c.$1,140

d.$1,440