Question
Oriole Company had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 121 $50 Mar. 14, 2022 Purchase 208 $53 May
Oriole Company had the following inventory transactions occur during 2022:
| Units | Cost/unit | |||||
|---|---|---|---|---|---|---|
| Feb. 1, 2022 | Purchase | 121 | $50 | |||
| Mar. 14, 2022 | Purchase | 208 | $53 | |||
| May 1, 2022 | Purchase | 148 | $55 |
The company sold 343 units at $71 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the companys gross profit using FIFO?
$6509
$17844
$18475
$5878
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Ebay Tips And Tricks To Increase Your Ebay Sales
Authors: Jessica Wilson
1st Edition
1774854015, 978-1774854013
