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(TCO 8) Fulbright Corp. uses the periodic inventory system.

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1.(TCO 8) Fulbright Corp. uses the periodic inventory system. During its first year ofoperation, Fulbright made the following purchases (listed in chronological order ofacquisition):40 units at $1000 units at $80170 units at $60Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.What is the ending inventory using the average cost method (rounded)?
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