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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:
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A $895.
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B $845.
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C $952.
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D $1,313.
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