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The following units of an inventory item were available for sale during the year: Beginning inventory 8 units at $49 First purchase 16 units at

The following units of an inventory item were available for sale during the year: Beginning inventory 8 units at $49 First purchase 16 units at $50 Second purchase 21 units at $58 Third purchase 13 units at $60 The firm uses the periodic inventory system. During the year, 42 units of the item were sold. The value of ending inventory using LIFO is a. $988 b. $392 c. $1,184 d. $792

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