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Suppose Carla Vista Company uses a periodic inventory system. Details related to inventory for the month of January are as follows: Units Unit Cost Total
Suppose Carla Vista Company uses a periodic inventory system. Details related to inventory for the month of January are as follows:
Units | Unit Cost | Total | ||||
---|---|---|---|---|---|---|
Balance, 1/1 | 340 | $6.00 | $2040 | |||
Purchase, 1/15 | 170 | ..6.00 | 1020 | |||
Purchase, 1/28 | 170 | ..6.30 | 1071 |
At the end of the month, there were 270 units on hand. If the company uses FIFO and sells the units for $11 each, what is the gross profit for the month?
$2970
$2460
$4510
$2050
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