Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made...
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Accounting
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 $90 per unit
75 units at $83 per unit
171 units at $56 per unit
Sales for the year totaled 269 units, leaving 17 units on hand at the end of the year. Ending inventory using the average cost method is:
Multiple Choice:
A) $1,002.
B) $952.
C) $1,153.
D) $1,530.
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