CALCULATOR PRINTER VERSION 4 BACK NEXT Multiple Choice Question 55 A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $62; Second purchase $70; Third purchase $61. If the company sold two units for a total of $220 and used FIFO costing, the gross profit for the period would be $89. $88. $95. $97. Click if you would like to Show Work for this question: Open Show Work SAVE FOR LATER SUBMIT ANSWER Question Attempts: 0 of 1 used