Question
During September, a firms inventory account included the following transactions: September 1 Inventory 25 units@$4.00 September 14 Purchased 60 units@$4.20 September 20 Sold 40 units@$6.00
During September, a firms inventory account included the following transactions:
| September 1 | Inventory | 25 units@$4.00 |
| September 14 | Purchased | 60 units@$4.20 |
| September 20 | Sold | 40 units@$6.00 |
| September 21 | Purchased | 30 units @ $4.25 |
| September 25 | Sold | 40 units @$6.10 |
Assuming periodic LIFO inventory costing, gross profit for September was:
A. $132
B. $147
C. $153
D. $165
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Ethics And The Internal Auditors Political Dilemma Tools And Techniques To Evaluate A Companys Ethical Culture Internal Audit And IT Audit
Authors: Lynn Fountain
1st Edition
149876780X, 978-1498767804
