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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): 41

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

  • 41 units at $101 per unit
  • 74 units at $77 per unit
  • 172 units at $65 per unit

Sales for the year totaled 274 units, leaving 13 units on hand at the end of the year.

Ending inventory using the LIFO method is:

  • A $895.

  • B $845.

  • C $952.

  • D $1,313.

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