Sales for the year totaled 270 units leaving 10 units on

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Fulbright Corp. uses the periodic inventory system. During its first year of operation, Fulbright made the following purchases (listed in chronological order of acquisition):

• 40 units at $100
• 70 units at $80
• 170 units at $60

Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. What is the ending inventory using the FIFO method?

Reference no: EM13477167

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