Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):

• 54 units at $142 per unit
• 140 units at $147 per unit
• 184 units at $127 per unit

Sales for the year totaled 340 units, leaving 38 units on hand at the end of the year.

In comparing the ending inventory balances of FIFO and LIFO, the ending inventory value under FIFO less the ending inventory balance under LIFO results in a difference of:

Multiple Choice

• $(570).

• $0.

• $570.

• $53.