The following units of an inventory item were available for sale during the year: Beginning inventory First purchase Second purchase Third purchase 7 units at $48 15 units at $53 22 units at $57 18 units at $60 The firm uses the periodic inventory system. During the year, 38 units of the item were sold. The value of ending inventory using FIFO is a. $1,138 b. $1,758 c. $1,422 d. $2,217