Question
Concord Company's inventory records show the following data: Units Unit Cost Inventory, January 1 9900 $8.80 Purchases: June 18 9300 9.00 November 8 5800 7.00
Concord Company's inventory records show the following data:
| Units | Unit Cost | ||
|---|---|---|---|
| Inventory, January 1 | 9900 | $8.80 | |
| Purchases: June 18 | 9300 | 9.00 | |
| November 8 | 5800 | 7.00 |
A physical inventory on December 31 shows 3700 units on hand. Concord sells the units for $13 each. The company has an effective tax rate of 24%. Concord uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?
$95646
$91380
$96340
$98040
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The Cybersecurity Body Of Knowledge The ACM IEEE AIS IFIP Recommendations For A Complete Curriculum In Cybersecurity Internal Audit And IT Audit
Authors: Daniel Shoemaker, Anne Kohnke, Ken Sigler
1st Edition
1032400218, 978-1032400211
