(Answered) Question - the following units of an inventory item were

Accounting

Question - The following units of an inventory item were available for sale during the year:

Beginning inventory	10 units at $55
First purchase	25 units at $60
Second purchase	30 units at $65
Third purchase	15 units at $70

The firm uses the periodic inventory system. During the year, 60 units of the item were sold.

The value of ending inventory rounded to nearest dollar using average cost is:

a. $1,353

b. $1,263

c. $1,150

d. $1,375

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