Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following
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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):
40 units at $107 per unit
71 units at $82 per unit
170 units at $67 per unit
Sales for the year totaled 272 units, leaving 9 units on hand at the end of the year.
Ending inventory using the average cost method is: (Do not round unit cost calculation. Round your final answer to the nearest whole dollar amount.)
Multiple Choice
$688.
$653.
$963.
$603.
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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