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 of operations, Fulbright made the following purchases (listed in chronological order of acquisition):

  • 42 units at $95 per unit
  • 71 units at $83 per unit
  • 174 units at $53 per unit

Sales for the year totaled 266 units, leaving 21 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.)

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