Question
The following data was extracted from the records of Winsam Company Sales Revenue 450 units @ $35 per unit Beginning Inventory 100 units @ $16
The following data was extracted from the records of Winsam Company
Sales Revenue 450 units @ $35 per unit
Beginning Inventory 100 units @ $16 per unit
Purchases 400 units at $20 per unit
What is the gross profit using the FIFO method?
- $6,950
- $7,150
- $8,600
- $8,800
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
