Use the information below to answer the following questions. The following units of an inventory item were available for sale during the year: Beginning inventory First purchase Second purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 Third purchase The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory rounded to the nearest dollar using average cost is a. $1,353 b. $1,150 c. $1,375 d. $1,263