Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright m
Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):
45 units at $96 71 units at $84 172 units at $65
Sales for the year totaled 269 units, leaving 19 units on hand at the end of the year.
Ending inventory using the average cost method is:
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