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 $105 per unit 71 units at $75 per unit 171 units at $50 per unit Sales for the year totaled 271 units, leaving 11 units on hand at the end of the year. Ending inventory using the LIFO method is: Multiple Choice $705. $1,155. $600. $550