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

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Accounting

The following units of an inventory item were available for sale during the year: Beginning inventory 9 units at $47 First purchase 17 units at $55 Second purchase 22 units at $56 Third purchase 15 units at $62 The firm uses the periodic inventory system. During the year, 40 units of the item were sold. The value of ending inventory using FIFO is a. $2,313 b. $1,801 c. $1,378 d. $1,102

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