Question
The Bradley Corporation produces a product with the following costs as of July 1, 20X1: Beginning inventory at these costs on July 1 was 3,200
The Bradley Corporation produces a product with the following costs as of July 1, 20X1:
Beginning inventory at these costs on July 1 was 3,200 units. From July 1 to December 1, 20X1, Bradley Corporation produced 12,400 units. These units had a material cost of $4, labor of $6, and overhead of $4 per unit. Bradley uses LIFO inventory accounting.
a.Assuming that BradleyCorporation sold 13,800 units during the last six months of the year at $19 each, what is its gross profit?
b. What is the value of ending inventory?
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Principles of Managerial Finance
Authors: Chad J. Zutter, Scott B. Smart
15th edition
013447631X, 134476315, 9780134478197 , 978-0134476315
