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A company has a starting inventory of 200 units at a cost of $5 per unit. The company purchases an additional 400 units at a

A company has a starting inventory of 200 units at a cost of $5 per unit. The company purchases an additional 400 units at a cost of $7 per unit. They sell 500 units at a price of $10 per unit. What is the gross profit of the company assuming FIFO accounting?

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