Fulbright corp uses the periodic inventory system during, Ask an Expert

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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?

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Category:- Basic Finance
Reference No.:- M9792343

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