Inventory records for Herb’s Chemicals revealed the followin…

Inventory records for Herb’s Chemicals revealed the following: March 1 inventory: 1,000 gallons @ $7.20 per gallon = $7,200 Purchases: Sales: March 10 600 gallons @ $7.25 March 5 400 gallons March 16 800 gallons @ $7.30 March 14 700 gallons March 23 600 gallons @ $7.35 March 20 500 gallons March 26 700 gallons Ending inventory assuming LIFO in a perpetual inventory system would be:

Fulbright Corporation uses the periodic inventory system. Du…

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 $90 per unit 73 units at $77 per unit 173 units at $63 per unit Sales for the year totaled 268 units, leaving 20 units on hand at the end of the year. Ending inventory using the average cost method is: Note: Do not round unit cost calculation. Round your final answer to the nearest whole dollar amount.