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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): 42
Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 42 units at $97 per unit 74 units at $90 per unit 172 units at $55 per unit Sales for the year totaled 269 units, leaving 19 units on hand at the end of the year. Ending inventory using the FIFO method is: Multiple Choice $1.843. O $1.095. (0) $1,332 $1,045. a
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