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A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $58: Second purchase $77; Third purchase $74. If

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A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $58: Second purchase $77; Third purchase $74. If the company sold two units for a total of $222 and used FIFO costing, the gross profit for the period would be $92. $87 $74. $85

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