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 $107 per unit 71 units at $71 per unit 172 units at $61 per unit Sales for the year totaled 266 units, leaving 20 units on hand at the end of the year What is the ending inventory using the average cost method

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Question: 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

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 $107 per unit
71 units at $71 per unit
172 units at $61 per unit

Sales for the year totaled 266 units, leaving 20 units on hand at the end of the year.

What is the ending inventory using the average cost method?

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