Sprint Shoes Incorporated had a beginning inventory of 9 , 7 0 0 units on January 1

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Question:

Sprint Shoes Incorporated had a beginning inventory of

9, 700

units on January

1, 20

1 .

The costs associated with the inventory were:

During

20 1,

the firm produced

43, 900

units with the following costs:

Sales for the year were

47, 530

units at $

39.60

each. Sprint Shoes uses LIFO accounting.

.

What was the gross profit?

Note: Do not round intermediate calculations.

Gross profit

.

What was the value of ending inventory?

Note: Do not round intermediate calculations.

Ending inventory

Posted Date: Jun 07, 2024 10:41 PM

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Sprint Shoes Incorporated had a beginning inventory of 9 , 7 0 0 units on January 1

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