Fulbright Corporation 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 $103 per unit

74 units at $79 per unit

170 units at $50 per unit

Sales for the year totaled 267 units, leaving 20 units on hand at the end of the year.

Ending inventory using the FIFO method is:

Multiple Choice

$1,000.

$2,060.

$1,308.

$1,050.