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 $106 per unit . 71 units at $76 per unit 172 units at $53 per unit Sales for the year totaled 267 units, leaving 16 units on hand at the end of the year Ending inventory using the FIFO method is: Multiple Choice 51060 $848 Multiple Choice $1,060 $848 $1,696, $898