11 Fulbright Corp, uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition) 44 units at $105 per unit 74 units at $77 per unit 170 units at $54 per unit 02.55-26 Sales for the year totaled 274 units, leaving 17 units on hand at the end of the year Ending inventory using the FIFO method is Multiple Choice 5968 Data related to the inventories of Kimzey Medical Supply are presented below. 2 2:55:12 Selling price Cost Replacement cost Costs to sell Normal gross profit ratio Surgical Equipment $355 265 335 68 20% Surgical Supplies $215 185 175 24 20% Rehab Equipment $435 345 330 44 20% Rehab Supplies $260 257 253 48 30% In applying the lower of cost or market rule, the inventory of surgical supplies would be valued at Multiple Choice $175 .