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***read each fact pattern carefully as Lincoln Daze facts can vary*** Lincoln Daze maintains a perpetual inventory system and utilizes the last-in-first-out method. Lincoln
***read each fact pattern carefully as Lincoln Daze facts can vary*** Lincoln Daze maintains a perpetual inventory system and utilizes the last-in-first-out method. Lincoln shares the following information with you summarizing the January and February purchases and sales of inventory. ITI Purchases: BB Jan 1st QTY Purchase Price Total 15-Jan 140 110 $4 $560 $6 $660 15-Feb 70 $8 $560 320 $1.780 Sales: QTY Sales Price Total 22-Jan 180 $12 $2,160 18-Feb 100 $12 $1.200 280 $3,360 What is Lincoln's gross profit for the two months ended February 28th? Do not round your intermediate calculations but if necessary round your final answer to the nearest $1. O $1,820 O 1,740 O $1,900 O $ 1,838 0 $ 1,803
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