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 $94 per unit
• 70 units at $86 per unit
• 173 units at $66 per unit

Sales for the year totaled 271 units, leaving 15 units on hand at the end of the year.

Ending inventory using the FIFO method is:

Multiple Choice

• $1,127.

• $1,040.

• $1,410.

• $990.