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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): Â· 40 units at $100 Â· 70 units at $80 Â· 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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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9962373

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