Fulbright Corporation uses the periodic inventory system. During its first year of operations, Fulbright made...
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Fulbright Corporation uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):
41 units at $90 per unit
71 units at $72 per unit
172 units at $70 per unit
Sales for the year totaled 274 units, leaving 10 units on hand at the end of the year.
Ending inventory using the FIFO method is:
Fulbright Corporation uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): - 41 units at $90 per unit - 71 units at $72 per unit - 172 units at $70 per unit Sales for the year totaled 274 units, leaving 10 units on hand at the end of the year. Ending inventory using the FIFO method is: Multiple Choice $750. $700. $900. $734
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