Question
Ted's Used Cars uses the specific identification method of costing inventory. During March, Ted purchased three cars for $6,800, $8,000, and $9,750, respectively. During March,
Ted's Used Cars uses the specific identification method of costing inventory. During March, Ted purchased three cars for $6,800, $8,000, and $9,750, respectively. During March, two cars are sold for $9,000 each. Ted determines that at March 31, the $9,750 car is still on hand. What is Ted's gross profit for March?
| A. | $250. | |
| B. | $3,450. | |
| C. | $3,200. | |
| D. | $8,250. |
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Introduction To Management Accounting Chapters 1 To 14
Authors: Charles T Horngren, Gary L Sundem, William O Stratton, Dave Burgstahler, Jeff Schatzberg
15th Edition
0136102778, 9780136102779
