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january 1: purchased 100 units at $10 per unit february 5: purchased 60 units at $12 per unit march 16: sold 40 units for $16

january 1: purchased 100 units at $10 per unit

february 5: purchased 60 units at $12 per unit

march 16: sold 40 units for $16 per unit

determine gross profit using the weighted average method and a perpetual inventory system.

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