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please help with this multiple choice question in the next 15 min Coronado Company's inventory records show the following data: Units Unit Cost Inventory: January
please help with this multiple choice question in the next 15 min
Coronado Company's inventory records show the following data:
Units | Unit Cost | ||
---|---|---|---|
Inventory: | January 1 | 9600 | $8.80 |
Purchases: | June 18 | 8800 | 9.00 |
November 8 | 5700 | 8.00 |
A physical inventory on December 31 shows 4200 units on hand. Coronado sells the units for $12 each. The company has an effective tax rate of 24%. Coronado uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?
$64620
$68820
$66480
$63120
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