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Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 42

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 42 units at $105 74 units at $76 174 units at $62 Sales for the year totaled 272 units, leaving 14 units on hand at the end of the year. Ending inventory using the LIFO method is: a. $868 b. $1007 c. $1470 d. $918

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