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 $93 per unit
• 71 units at $78 per unit
• 173 units at $65 per unit

Sales for the year totaled 274 units, leaving 14 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

$910.

$960.

$1,015.

$1,302.

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 $102 per unit
• 72 units at $76 per unit
• 175 units at $70 per unit

Sales for the year totaled 272 units, leaving 19 units on hand at the end of the year.

Ending inventory using the FIFO method is:

Multiple Choice

$1,450.

$1,380.

$1,938.

$1,330.

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):

• 43 units at $97 per unit
• 71 units at $83 per unit
• 170 units at $70 per unit

Sales for the year totaled 269 units, leaving 15 units on hand at the end of the year.

Ending inventory using the LIFO method is:

Multiple Choice

$1,100.

$1,160.

$1,455.

$1,050.