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Fulbright Corporation uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 42

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

42 units at $102 per unit

73 units at $87 per unit

173 units at $69 per unit

Sales for the year totaled 269 units, leaving 19 units on hand at the end of the year.

Ending inventory using the average cost method is:

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