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 $103
• 73 units at $78
• 172 units at $63

Sales for the year totaled 273 units, leaving 16 units on hand at the end of the year.

Ending inventory using the FIFO method is:

Multiple Choice

• $1,058.
• $1,008.
• $1,648.
• $1,166.