Question: Problem #2: Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of

Problem #2: 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 $110 per unit 65 units at $75 per unit 163 units at $59 per unit Sales for the year totaled 205 units. Required: COGS and Ending inventory using the FIFO method is

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