15. Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):• 40 units at $100• 70 units at $ 80• 170 units at $ 60Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. Ending inventory using the average cost method is: (Points : 3) $ 650. $1,000. $ 707. $ 600. 16. Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):• 40 units at $100• 70 units at $ 80• 170 units at $ 60Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. Ending inventory using the FIFO method is: (Points : 3) $ 650. $1,000. $ 707. $ 600. 17. Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):• 40 units at $100• 70 units at $ 80• 170 units at $ 60Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. Ending inventory using the LIFO method is: (Points : 3) $ 650. $1,000. $ 707. $ 600.

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"