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Specs, a distributor for S. Pellegrino Corporation, sells S. Pellegrino mineral water to grocery stores around the world. The cost of each bottle depends on
Specs, a distributor for S. Pellegrino Corporation, sells S. Pellegrino mineral water to grocery stores around the world. The cost of each bottle depends on when Specs purchases the water. See the cost structure below: Mar. Purchases 10 cases @ $30 Jul. Purchases 20 cases @ $40 Aug Purchases 30 cases @ $50 Specs sells 35 cases in September. What is the gross margin under the FIFO method if each case is sold for $75?
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