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Compute the Ending inventory using the FIFO method

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Question - 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 $99 per unit

74 units at $87 per unit

171 units at $64 per unit

Sales for the year totaled 265 units, leaving 20 units on hand at the end of the year.

Required - Compute the Ending inventory using the FIFO method?

Reference no: EM132848757

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