^(Q.36)

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 $105 per unit 72 units at $83 per unit 172 units at $62 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 o $1,290 O $1,474 O $2,100. o $1,240