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7: On 31 December 2022, Ithaca Manufacturing had 3,000 units in its Finished Goods inventory. The balance sheet on December 31 indicated that these items
7: On 31 December 2022, Ithaca Manufacturing had 3,000 units in its Finished Goods inventory. The balance sheet on December 31 indicated that these items had a total dollar value of $87,345. During the first quarter of 2023. the company expects to sell 35.000 units at a price of $60/unit. During the same period. the estimated production Is 38.000 units at a cost of s2//unit. what is the expected gross pront for the quarter it the company follows a FIFO method? [4
7: On 31 December 2022, Ithaca Manufacturing had 3,000 units in its Finished Goods inventory. The balance sheet on December 31 indicated that these items had a total dollar value of $87,345. During the first quarter of 2023. the company expects to sell 35.000 units at a price of $60/unit. During the same period. the estimated production Is 38.000 units at a cost of s2//unit. what is the expected gross pront for the quarter it the company follows a FIFO method? [4
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