Current Attempt in Progress Swifty Company had 590 units of Dink in its inventory with a...
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Current Attempt in Progress Swifty Company had 590 units of "Dink" in its inventory with a cost of $11 each. It purchased 890 more units of "Dink" for $17 each. Swifty then sold 1120 units at a selling price of $28 each. The LIFO liquidation overstated normal gross profit by $1800. $0. O $1380. O $3180. Current Attempt in Progress Swifty Company had 590 units of "Dink" in its inventory with a cost of $11 each. It purchased 890 more units of "Dink" for $17 each. Swifty then sold 1120 units at a selling price of $28 each. The LIFO liquidation overstated normal gross profit by $1800. $0. O $1380. O $3180.
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