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A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $ 6 5 ; Second purchase $ 7

A company just starting in business purchased three merchandise
inventory items at the following prices. First purchase $65; Second
purchase $78; Third purchase $68. If the company sold two units for
a total of $200 and used FIFO costing, the gross profit for the
period would be $68. $57. $54. $62.

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