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Fulbright Corporation uses the periodic inventory system. During its first year of operations,...

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Fulbright Corporation uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): - 42 units at $101 per unit - 75 units at $73 per unit - 171 units at $56 per unit Sales for the year totaled 266 units, leaving 22 units on hand at the end of the year. Ending inventory using the FIFO method is: Multiple Choice $1,232. $1,474. $2,222. $1,282

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