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Sheridan Company sells one product. Presented below is Information for January for Sheridan Company Jan. 1 Inventory 107 units at $5 each 4 Sale 84

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Sheridan Company sells one product. Presented below is Information for January for Sheridan Company Jan. 1 Inventory 107 units at $5 each 4 Sale 84 units at $8 each 11 Purchase 146 units at $6.00 each 13 Sale 118 units at $9.00 each 20 Purchase 153 units at $7 each 27 Sale 89 units at $10 each Sheridan uses the FIFO cost flow assumption. All purchases and sales are on account. Compute gross profit using the periodic system. Gross profit $

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