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Fulbright corp uses the periodic inventory system during

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

• 44 units at $104
• 70 units at $73
• 171 units at $63

Sales for the year totaled 274 units, leaving 11 units on hand at the end of the year.

Ending inventory using the LIFO method is:

$1,144. $743. $693. $790.

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Accounting Basics: Fulbright corp uses the periodic inventory system during

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