Blossom Company uses a perpetual inventory system. The following information is provided for cost of goods sold and ending inventory under FIFO and weighted average.

		FIFO				Weighted Average
Cost of goods sold			$7,080			$6,791
Ending inventory			$1,020			$1,309

Assume sale units to be 1,160. Incorrect answer icon

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Assuming all units are sold for $15 per unit, and the product costs are decreasing, calculate gross profit under FIFO.

Gross profit

$enter Gross profit in dollars

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Assuming all units are sold for $15 per unit, and the product costs are decreasing, calculate gross profit under weighted average.

Gross profit

$enter Gross profit in dollars

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