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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): - 44 units at $94 per unit - 72 units at $87 per unit - 171 units at $57 per unit Sales for the year totaled 269 units, leaving 18 units on hand at the end of the year. Ending inventory using the LIFO method is: $1 , 692 . $1 , 264 $1 , 076 $1 , 026
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