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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): 44

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 44 units at $104 per unit .70 units at $74 per unit 171 units at $69 per unit Sales for the year totaled 268 units, leaving 17 units on hand at the end of the year. Ending inventory using the FIFO method is: Multiple Choice $1768 $1.286 $1223

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