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Sheffield Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Units Per unit price

Sheffield Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:

Units

Per unit price

Total

Balance, 1/1/20

160 $6.00 $960

Purchase, 1/15/20

130 5.20 676

Purchase, 1/28/20

130 5.50 715

An end of the month (1/31/20) inventory showed that 180 units were on hand. If the company uses FIFO and sells the units for $12 each, what is the gross profit for the month?

$830

$1504

$1959

$960

Please help me answer this multiple choice questions before 8pm

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