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Heintz mechanics had an inventory of 600 units at the end of April which cost $15 per unit to produce. During May the company will
Heintz mechanics had an inventory of 600 units at the end of April which cost $15 per unit to produce. During May the company will produce 850 units at a cost of $20 per unit. The firm expects to sell 1200 units in May. Heintz Mechanics uses LIFO inventory accounting method.
a) Calculate projected cost of goods sold for May.
b) Calculate projected dollar value of ending inventory for May.
c) If Heintz Mechanics sells their product for $35 per unit, calculate the Gross Profit in May.
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