Convex Mechanical Supplies produces a product with the following costs as of July 1 , 2 0 X 1 Material $ 6 Labor 4 Overhead 3 $ 1 3 Beginning inventory at these costs on July 1 was 6 , 1 0 0 units From July 1 to December 1 , Convex produced 1 7 , 0 0 0 units These units had a material cost of $ 1 0 per unit The costs for labor and overhead were the same Convex uses FIFO inventory accounting Assuming that Convex sold 1 9 , 0 0 0 units during the last six months of the year at $ 2 0 each, what would gross profit be What is the value of ending inventory

Question

Convex Mechanical Supplies produces a product with the following costs as of July 1 , 2 0 X 1   Material $ 6 Labor 4 Overhead 3 $ 1 3 Beginning inventory at these costs on July 1 was 6 , 1 0 0 units  From July 1 to December 1 , Convex produced 1 7 , 0 0 0 units  These units had a material cost of $ 1 0 per unit  The costs for labor and overhead were the same  Convex uses FIFO inventory accounting  Assuming that Convex sold 1 9 , 0 0 0 units during the last six months of the year at $ 2 0 each, what would gross profit be   What is the value of ending inventory

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Question

Convex Mechanical Supplies produces a product with the following costs as of July 1 , 2 0 X 1 : Material $ 6 Labor 4

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