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): 44

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 $94 72 units at $73 174 units at $59 Sales for the year totaled 265 units, leaving 25 units on hand at the end of the year. Ending inventory using the FIFO method is:

a. $1695

b. $1525

c. $2350

d. $1475

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