The following units of an inventory item were available for sale during the year: Beginning inventory 10 units at $50 First purchase 25 units at $55 Second purchase 30 units at $60 Third purchase 15 units at $65 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory using average cost is: $1, 252 $1, 163 $1, 275 $1, 050