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A medical device company; On January 1, purchases 1,500 units from $20 each On December 15, purchases 2,000 units from $21 each On December 31,

A medical device company; On January 1, purchases 1,500 units from $20 each On December 15, purchases 2,000 units from $21 each On December 31, sells 3,000 units from $23 each What does reported profit in income statements show under LIFO? a. $ 5,000 b. $ 7,000 c. $ 7,500 d. $ 8,000

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