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

• 40 units at $100 per unit
• 75 units at $76 per unit
• 172 units at $61 per unit

Sales for the year totaled 269 units, leaving 18 units on hand at the end of the year.

Ending inventory using the FIFO method is:

Multiple Choice

• $1,098.

• $1,266.

• $1,800.

• $1,148.