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Blue Spruce Corp. had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 106 $106 Mar. 14, 2017 Purchase 183 $111
Blue Spruce Corp. had the following inventory transactions occur during 2017:
| Units | Cost/unit | |||||
|---|---|---|---|---|---|---|
| Feb. 1, 2017 | Purchase | 106 | $106 | |||
| Mar. 14, 2017 | Purchase | 183 | $111 | |||
| May 1, 2017 | Purchase | 130 | $116 |
The company sold 301 units at $149 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys gross profit using FIFO? (rounded to whole dollars)
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