Question
Problem III At a lump-sum cost of $60,000, Pratt Company recently purchased the following items for resale: Item No. of Items Purchased Resale Price Per
Problem III
At a lump-sum cost of $60,000, Pratt Company recently purchased the following items for resale:
Item No. of Items Purchased Resale Price Per Unit
M 4,000 $3.75
N 2,000 12.00
O 6,000 6.00
Calculate the appropriate cost per unit of inventory and the gross profit.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
