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2c/6: calculate gross profit for May. On May 1, Blossom Company had 380 units of inventory on hand, at a cost of $4.00 each. The

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2c/6: calculate gross profit for May.

On May 1, Blossom Company had 380 units of inventory on hand, at a cost of $4.00 each. The company uses a perpetual inventory system. All purchases and sales are on account. A record of inventory transactions for the month of May for the company is as follows

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