Question
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 $98 | |
| 70 units at $74 | |
| 173 units at $67 |
| Sales for the year totaled 275 units, leaving 12 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): |
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Principles of Auditing An Introduction to International Standards on Auditing
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
3rd edition
273768174, 978-0273768173
