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Three identical units of Item K113 are purchased during July, as shown below. Item K113 Units Cost July 9 Purchase 1 156 17 Purchase 1

Three identical units of Item K113 are purchased during July, as shown below.

Item K113 Units Cost July 9 Purchase 1 156 17 Purchase 1 177 26 Purchase 1

187

Assume that one unit is sold on July 31 for $225. Determine the gross profit for July using the average cost method.

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