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Three identical units of Item K 1 1 3 are purchased during July, as shown below. Item K 1 1 3 Units Cost July 9

Three identical units of Item K113 are purchased during July, as shown below. Item K113 Units Cost July 9 Purchase 115217 Purchase 117826 Purchase 1198 Assume that one unit is sold on July 31 for $238. Determine the gross profit for July using the first-in,first-out (FIFO) method.
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