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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): 45

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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): 45 units at $115 per unit 95 units at $102 per unit 175 units at $82 per unit Sales for the year totaled 295 units, leaving 20 units on hand at the end of the year. In comparing the ending inventory balances of FIFO and LIFO, the ending inventory value under FIFO less the ending inventory balance under LIFO results in a difference of: Multiple Choice O $660. O $1660) O $0. O $53 o

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