A company just starting in business purchased three units of merchandise inventory items at the following prices. March 2, $180; March 7, $160; and March 15, $150. If the company sold two units for $250 each on March 10 and March 20, and used the FIFO cost formula in a periodic inventory system, the gross profit for March would be 1) $160.00 O2) $190.00 3) $150.00 4) $200.00