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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): 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 per unit
72 units at $87 per unit
174 units at $68 per unit
Sales for the year totaled 270 units, leaving 20 units on hand at the end of the year. Ending inventory using the average cost method is:
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