Palm Corp. uses the periodic inventory system. During its first year of operations, Palm made the following purchases (list in chronological order of acquisition): • 20 units at $50 • 35 units at $40 • 85 units at $30 Sales for the year totaled 135 units, leaving 5 units on hand at the end of the year. Ending inventory using the average cost method is A. $ 150 C. $ 250 B. $ 177 D. $1,540