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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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