Question
Blue Spruce Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 104 $104 Mar. 14, 2022 Purchase 180 $109
Blue Spruce Corp. had the following inventory transactions occur during 2022:
| Units | Cost/unit | |||||
|---|---|---|---|---|---|---|
| Feb. 1, 2022 | Purchase | 104 | $104 | |||
| Mar. 14, 2022 | Purchase | 180 | $109 | |||
| May 1, 2022 | Purchase | 128 | $114 |
The company sold 296 units at $146 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys gross profit using FIFO?
$32904
$31804
$11412
$10312
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The Training And Development Audit
Authors: Rosemary Harrison
2nd Edition
0955970725, 978-0955970726
