Question
Novak Corp. uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Units Per unit price
Novak Corp. uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows:
| Units | Per unit price | Total | ||||
| Balance, 1/1/2017 | 370 | $6.0 | $2220 | |||
| Purchase, 1/15/2017 | 180 | ..6.5 | 1170 | |||
| Purchase, 1/28/2017 | 180 | ..6.7 | 1206 |
An end of the month (1/31/2017) inventory showed that 290 units were on hand. If the company uses FIFO and sells the units for $12.0 each, what is the gross profit for the month?
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Critical Marketing Audit The Case Of Apple Inc.
Authors: Joseph Katie
1st Edition
365637712X, 978-3656377122
