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A8-l5 Company uses the weighted average inventory costing method. The company had a beginning inventory of 300 units that cost $12.00 each. Purchases were made
A8-l5 Company uses the weighted average inventory costing method. The company had a beginning inventory of 300 units that cost $12.00 each. Purchases were made throughout the year as follows: June: 700 units purchased at $12.50 per unit August: 1,000 units purchased at $12.80 per unit October: 500 units purchased at $13.00 per unit During the year, 1,800 units were sold to customers at a selling price of $15.00 each. Operating expenses for the year amounted to $1,000 and the income tax rate was 30%. The gross profit reported by A8-l5 Company during the year was equal to:
Group of answer choices
$4,050
$4,063
$2,065
$3,212
$3,050
$5,804
$4,410
$2,248
$2,135
$2,950
$4,212
$2,387
$3,950
$3,410
$6,804
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