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The Bradley Corporation produces a product with the following costs as of July 1, 20X1: The Bradley Corporation produces a product with the following costs
The Bradley Corporation produces a product with the following costs as of July 1, 20X1: The Bradley Corporation produces a product with the following costs as of July 1, 20X1: Material Labor Overhead S4 per unit 4 per unit 2 per unit Beginning inventory at these costs on July 1 was 3,250 units. From July 1 to December 1, 20x1, Bradley produced 12,500 units. These units had a material cost of $5, labor of S4, and overhead of $5 per unit. Bradley uses LIFO inventory accounting a. Assuming that Bradley sold 14,000 units during the last six months of the year at $19 each, what is its gross profit? Gross profit b. What is the value of ending inventory? Ending inventory
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