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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):

  • 43 units at $94 per unit
  • 70 units at $86 per unit
  • 173 units at $66 per unit

Sales for the year totaled 271 units, leaving 15 units on hand at the end of the year.

Ending inventory using the FIFO method is:

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