Question
The following information was drawn from the inventory records of Alpha Company as of December, Year 2. Beginning inventory (purchased in Year 1) 460 units
The following information was drawn from the inventory records of Alpha Company as of December, Year 2. Beginning inventory (purchased in Year 1) 460 units @ $6 each Purchases made in Year 2quad1,060 units & $9 each Units sold 1,160 units@ $13 each Which of the following is the amount of the gross margin shown on the Year 2 Income statement assuming Alpha uses a LIFO cost flow method?
Multiple Choice
$4.940
$9,060
$10,140
$6,020
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
