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What Ending inventory using the FIFO method is

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Reference no: EM132602208

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

  1. 40 units at $95 per unit
  2. 71 units at $73 per unit
  3. 172 units at $52 per unit

Sales for the year totaled 273 units, leaving 10 units on hand at the end of the year.

Question 1: Ending inventory using the FIFO method is

Reference no: EM132602208

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