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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 $96
- 72 units at $75
- 172 units at $64
Sales for the year totaled 270 units, leaving 18 units on hand at the end of the year.
Ending inventory using the FIFO method is:
Multiple Choice
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$1,728.
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$1,290.
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$1,202.
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$1,152.
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