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): 42

 Fulbright Corp. uses the periodic inventory system. During its first year

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 42 units at $97 per unit 74 units at $90 per unit 172 units at $55 per unit Sales for the year totaled 269 units, leaving 19 units on hand at the end of the year. Ending inventory using the FIFO method is: Multiple Choice $1.843. O $1.095. (0) $1,332 $1,045. a

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