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 $107 per unit

71 units at $82 per unit

170 units at $67 per unit

Sales for the year totaled 272 units, leaving 9 units on hand at the end of the year.

Ending inventory using the average cost method is: (Do not round unit cost calculation. Round your final answer to the nearest whole dollar amount.)

Multiple Choice

$688.

$653.

$963.

$603.