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Question 39 Genius Co, which uses a weighted average perpetual inventory system, had the following inventory on hand as at Jan 4th year 1: Purchase

Question 39

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Genius Co, which uses a weighted average perpetual inventory system, had the following inventory on hand as at Jan 4th year 1: Purchase Date Units Cost Total Jan 1, Year 1 10 $40 $400 Jan 3, Year 1 15 $50 $750 if Genius Co. sold 12 units on Jan 4th year 1 for $80 per unit, what is the gross profit they would report? Select one: O a. $460 O b. $408 O c. $500 O d. $960

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