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Alien Shirt Co. has the following information regarding its 2017 inventories: Date Description Units Price Amount 1/1/2017 Beginning inventory, January1 7,500 $8.75 $65,625 3/31/2017 Purchase
Alien Shirt Co. has the following information regarding its 2017 inventories:
Date | Description | Units | Price | Amount |
1/1/2017 | Beginning inventory, January1 | 7,500 | $8.75 | $65,625 |
3/31/2017 | Purchase | 1,300 | $9.25 | 12,025 |
7/2/2017 | Purchase | 1,800 | $9.70 | 17,460 |
11/18/2017 | Purchase | 6,700 | $10.25 | 68,675 |
| Totals | 17,300 |
| $163,785 |
During 2017, Alien sold 8,000 units at a selling price of $12.00 per unit. Alien has adopted a last-in, first-out (LIFO) method of accounting for inventories. What is Aliens Gross Profit for 2017? $
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