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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):
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 $99 per unit 73 units at $77 per unit 172 units at $54 per unit Sales for the year totaled 266 units, leaving 21 units on hand at the end of the year. Ending inventory using the FIFO method is: Multiple Choice O $1,134 $2.079 $1384 $1395
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